Glove stocks tak laku, go for cheap sales.

No ones want to buy top glove some more EPF is selling it as ATM to cash money for public withdrawal, ridiculous its boss Lim's family buy back to support the price.

Big players and funds always do bottom fishing for the targeted stocks quietly. They won't buy at its down trend, only the not smart retailers would buy on down trend.

The smart investors would sell now and wait until its bottom part to buy back for bottom fishing. When stocks drop to bottom part, it would be very low trading volume with less buyers and sellers where u can bottom fishing to keep it for long-term.

U all better follow the footsteps of Millionology to cut loss at rebound otherwise u would be regret later when it drops below $6. Remember the more u top up the more u trapped.

Millionology, u are smart and really understood the real current situation of glove stocks and accept its reality. Respect u.

Ibelieve, I never chase high to buy stocks, I always do bottom fishing like I bought Genting and CIMB very low price at its bottom part, now are increasing value on the up trend.

Many of the new ones in stock market have not experienced the market crash caused by financial crisis that happened in year 1997 and 1998. Thus, they are very crazy believing in certain stocks can't even think it objectively.

RunFirst, not only u, I invest in stock market more than 30years.

beinvested, supermx localy traded can't be compared with Bitcoin worldwide traded.

Djoker89, I am making big money from my portfolio not like u be trapped losing money.

DJoker89. U bought now at $6.04, later would drop to $5 be trapped, happy turn to sad.

EPF would keep on selling glove stocks to cash money for the public withdrawal. Unfortunately glove counters are targeted by EPF as ATM machine to cash money for public withdrawal because of getting free shares from top glove bonus issue of two to one.

YayorNay, we are not naysayers. Only that u all get crazy and drunk in loving glove stocks don't want to accept the reality of down trend in glove counters.

No more bull, only have minor technical rebound what for still dump in money to be trapped for long-term. Why not put it somewhere else to make money. To be smart for your investment to make profit not to make loss.

Only a minor technical rebound is a chance to run. It would drop further down after the rebound.

Bloodbath for Big Four glove makers doesn’t come as a surprise
By Cheah Chor Sooi
5 hours ago
in Mainstream, Markets, Top

So how did a lucrative industry that only nine months ago made billionaires of company founders suddenly loses its glitter even when gloves are still deemed a crucial personal protective equipment (PPE) in the face of the COVID-19 pandemic that is raging across the globe with a spike in daily infection rate?

The immediate answer is obviously a shift of focus to vaccine as the lasting cure for the pandemic.

But beyond that, many investors have forgotten that both robust demand for gloves and their high average selling prices (ASPs) have already been factored into the current stock price of most, if not all, existing glove stocks.

As such, this leaves very little room for glove stocks to resume an upward momentum that they used to enjoy some six to nine months ago.

Yet, another point of contention that many Malaysian investors failed to capture on their radar is the disconnect between the labour-intensive glove industry and the ESG (environment, social & corporate governance) criteria that is increasingly becoming a benchmark of socially responsible investing by many institutional and fund managers.

The slightest mistreatment and deprivation of workers’ welfare is deemed an ESG breach which is punishable by stock dumping, to bluntly put it.

With the rampant surge in the number of COVID-19 cases associated with glove makers – not to mention the disregard for liveable accommodation and humane treatment of their workforce – it can be assumed that many foreign funds and even local institutional investors have begun to desert glove counters.

Of late, there is a trend of the Employees Provident Fund (EPF) off-loading its stockholding in Top Glove Corp Bhd, the world’s largest glove maker.

Suffice to say that between Nov 26 and Dec 24 alone, the retirement fund has reduced its stake in Top Glove from 6.03% or 484.82 million shares to 5.11% or 409.93 million shares. This means that EPF is a mere 0.11% away from relinquishing its position as a substantial shareholder of the company.

More worrying is that the current share disposal trend of EPF in Top Glove bears semblance to that in AirAsia Bhd when the budget carrier was embroiled in graft allegation early this year.

Would easily break $6 further down to $5 soon. Prepare bullets for it. Good luck.

Yes, there's party of short selling on glove counters next week onwards.

Fortress Capital Asset Management chief executive officer Thomas Yong said market sentiment has turned bearish on glove stocks since the announcement of vaccine availability despite the strong earnings performance achieved by the glove companies so far.

“Although the valuations of glove companies have come down significantly from a very high level in the early part of this year, the news on the rollout of vaccines will continue to weigh on the market sentiment surrounding glove stocks.

“A strong rebound in share price is unlikely but there might be opportunity when the valuation of glove stocks gradually normalise to their historical average,” said Yong

He also noted it is widely known in the market that glove companies are going to exceed their highest profit record in 2021 on a full-year basis.

“The question now is not about how much profit they can make in 2021, but how much growth is left. The market is looking past the profit of glove companies in 2021, and its focus is now on any potential reversion in glove average selling price, which might come in as early as the second half of 2021.

“The key question now lies on when will the balance of demand and supply of gloves be restored, where it is going to trigger a downtrend in glove prices,” he added.

Rakuten Trade Sdn Bhd head of research Kenny Yee also said the party has ended for the glove sector as funds will flow to others for a recovery play.

“I would rather be on the sidelines as the glove counters are consolidating until they steadied at a trading range,” he said.

Yee also noted astronomical earnings for glove companies are temporary; thus he believes glove share prices have already priced in such events.

Agreeing the party is over for glove makers, JF Apex research head Lee Chung Cheng said the opportunity for glove makers is getting slimmer as Covid-19 vaccines are gaining momentum.

Even though the glove makers' share prices have fallen significantly, he believes the sentiment for glove makers remained weak.

“Even if you see there is a value for glove makers, you will still want to wait for a while. Funds are profit taking, you don’t know how low it can go,” he said.

Lee also opined that the stellar results for glove makers have been factored into the share price.

“Investors are looking forward in the second half of next year, when all the new entrants come in, will the positive momentum can be sustained?” he quipped.

Areca Capital Sdn Bhd CEO Danny Wong also noted glove makers' share prices are unlikely to return to their peaks as the sentiment (the development of vaccine) is against the glove makers.

Parrot, keep it long term until next new pandemic come will make money if buy some more at its bottom price to average down the investment cost. U must be patient and tolerance to keep it because don't know when to have new pandemic again. Glove counters only have bull during pandemic, it would be very cold nobody looks at it at normal time without pandemic.

For those who want to keep for long-term investment , why not just wait to buy in at its bottom part where u can see it cold with extremely low trading volume with very less buyers and sellers. If u buy now hope for its rebound not much money u can make some more risky. If have, it's just the minor technical rebound price can't go up much.

Those continue to buy more and more at its long term down trend would be trapped more and more and eventually u have to keep it as expensive long term investment later as its price drops lower and lower. Good luck.

Even the pandemic not yet over, the bull also won't be back soon. Usually after a super bull for the stock have to wait very long time may be one or two years or even longer time for the next bull to come back especially glove counters now full of trapped retailers as I said big players and short term funds have to see all the retailers disappear and price drops to extremely low level with low trading volume with that big players easy to monitor it.

Remember glove counters including supermx are in long term down trend the price would continue drop lower and lower with minor rebound in between. The price now is considered high now don't know where the bottom is. Big players and short term funds won't be back now as they know still have a lot of trapped retailers like u all inside waiting to sell if they come back to goreng push up the price now. They might be back when the price drop deeply to a very low level that all the trapped retailers finish panic selling disappear and the stock becomes cold, no fever and no heat that trading volume extremely low.

RHBIB7, If u don't believe to drop below $6, go to buy more wait to see.

DJoker89, don't dream, short selling coming in next week to target glove stocks. Only trapped retailers like u all are buying now to average the stock holding cost, no big players and no ibs are buying now according to homily chart.

The more u buy the more u trapped as the price would go further down might hit $5 or below if break $6 according to chart analysis. Prepare more bullets for it and also prepare to keep it for long long term until next new pandemic come.

Why now nobody talks about the super profit of supermx and its profit increase over the next two years. Company is making super super profit but its stock retailers are losing money, why? Very funny.

Recovery counters are safer because it's up trend have price support. Glove counters are down trend now no price support risky.

Once u bought at $6.02 now, it would drop again even possible drop below $4 in longer period later. The range for price drop is quite big especially when pandemic under control.

Ibelieve I am mot worried I bought it at its bottom part very low price and I prepare a lot of bullets to wait fot it.

Hold tight tight don't want to sell even buy more at about $8 now panic selling at lower price. This show how fear of the dreaming trapped retailer.

Almost come to break $6 further down to $5.

No hope for glove stocks including supermx price to shoot up much, conversely it would drop further down because are targeted for short selling more easier to be manipulated by ibs in next week onwards. Wait to watch show.

U think collect now is cheap later it would be more cheaper until u finish bullets also would be cheaper again when pandemic over or under control. Your investment would be costly until next new pandemic come. Any dividend u collect can't even cover your losing money. This is what u say long term investment.

EPF and Kyy are selling their glove stocks today.

638759 Don't dream, it even can't steadly stand above $7 now, how to go up $11.80. With u all trapped ones limited bullets, how to push it up. No hot money and no big players, how price can go up.

Tyco, supermx localy traded can't be compared to bitcoin which is internationly traded. Don't dream supermx go up to $12, it even can't steadly stand above $7 now, might be pressed by ibs to drop lower. Without hot money, big players and funds, mainly held by trapped retailers who have no super power to push up, how supermx can go up to $12. Crazy and hopeless thinking.

It might continue dropping with minor rebound in between even below $6 nearing to $5.

The more u buy the more u trapped. Remember it's long term down trend now, if rebound only the minor one, price can't go up much. After minor rebound, it drops again. Just think of it was dropping from $10 until now about $6.50, it's drop followed by rebound a little then drop again.

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