This is my third stand like this and they're all terrible. It's so easy to throw one in while ordering other stuff because "ah, come on, it's no money and who doesn't need another mic stand?". Look out! It's a trap!
I would like to say that it does it's job, just not very well. However, it doesn't even do that. If you use it on a gig, you can be sure that the mic will not be in the same spot halfway into the set. They're awkward to handle and they come greased in some kind of oil that rubs off everywhere (although, that might come from the bass player).
This is an awful microphone stand.
Go for the K&M!