espite the sharp recovery on Wall Street overnight, further profit taking activities were noticed on healthcare related stocks especially the glove counters, which then contributed to negative sentiment across the market; the FBM KLCI fell 0.44% to 1,490.12 pts. Meanwhile, both the FBM ACE and FBM Small Cap declined 5.4% and 4.0%, respectively. Market breadth was negative with losers outnumbered gainers by a ratio of 5-to-1 (weakest since mid-June). Meanwhile, financial services (+0.17%) and REITs (+0.10%) were the outperforming sub-indices on Bursa Exchange. Nevertheless, some of stocks under the hospitality and tourism segment such as PARLO, AVI, LIENHOE and IMPANA managed to make into the top gainers list as market players could be rotating to domestic travelling theme at this juncture.
What's the private placement stage now? It mentioned within 1 months will submit to bursa for approval. Does it means that within this 1 month time they will do private placement which based on the average price?
Another peculiar trend is the share price movements of these companies that have announced share placements, of which 90% are penny stocks. About half saw their share prices reach their highest this year — some hitting record highs — in the months after their respective placement announcements. For 23 of them, their share prices have at least doubled.
Momentum Catalyst ▪️NWP appointed new Exec Director Datuk Chu Boon Tiong as announced 23Sep 2020 ▪️Chu is also the ED of ITRONICS (9393) ▪️In August, ITRONICS moved from a low of 10 sen to high of 40 sen, in tandem with announcement of a major investment by a China firm linked to Chu
▪️Given Chu's IT business background from his various corporate profiles, NWP's recent movement could be an indicator of new developments to be made public soon. The only question is would Chu steer NWP towards the IT sector, or expand its current core business in timber/logging ▪️the private placement was announced on 13Oct, less than a month of Chu joining the board as ED. Sources privy to the fund raising has shared that the exercise is intended to raise cash for the company to take on new projects "very soon"
▶️Support level seems to be strong at 15sen, with resistance at previous high of 20-22sen ▶️If indeed the new ED can deliver projects or new biz with a WOW factor, NWP would no doubt have a strong run, given its penny stock nature and past trading patterns with strong bursts of buying volume
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....
damansaraeagle
1,785 posts
Posted by damansaraeagle > 2020-09-10 10:39 | Report Abuse
Sea of red. Retailers getting hit left and right