Sersol hit by heavy selling, shares plunge.. SerSol Bhd continued to see its market capitalisation being wiped out as its share price plunged further due to heavy selling pressure on worries about margin calls.
The paints and coating company’s share price fell 12.5 sen to close at 61.5 sen, with 25.06 million shares being traded.
With a paid up of 192.70 million shares, this saw RM24.09mil being erased from its market capitalisation, reducing it to RM118.51mil as at yesterday.
SerSol shares lost 27 sen on Monday in volatile trade, while its warrants lost 15 sen to 38 sen, with 45.06 million units being done.
SerSol shares had been on an uptrend since July, rising to its record high of RM1.05 on Sept 24.
StarBiz had reported on Sept 3 that Mohamed Ridzuan Nor Md was appointed as SerSol’s managing director.
And last week, Mohd Nazifuddin Mohd Najib, together with his business partner Lim Kim Chai, emerged as substantial shareholders in the company with a 20.76% stake.
Ridzuan is the son of former second finance minister Tan Sri Nor Mohamed Yakcop, while Nazifuddin is Prime Minister Datuk Seri NajibTun Razak’s son.
hehee .. what going down gaigai .. must going up more or less lah .. punter counter strictly not for investor ... those itchy hand buy this counter know the consequences lah....lol
Whoever in helm or holding substantial shareholding is not a problems, just that he is the PM son's is enough to bring bad reputation to the Board. Further, only announcement so far is he is the big shareholders and nothing concrete that he will bring the company forward with his visions or material announcement that will boost the share pricing.
So no big deal. Judging from the selldown recently already painted the picture that investors do not like this event unfold.
maybe his not make any statement because he not do anything wrong...it only perception of traders towards him make the shares plunging...n now this shares might recover n stabilize back
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
anbz
5,163 posts
Posted by anbz > 2013-10-01 15:59 | Report Abuse
how come A size is heaven? flatty..