CW8888: Who are the people who made stocks so risky??? Do we need to join them?
Shares of Blumont Group and Asiasons Capital plunged on Monday
after they resumed trading following the lifting of their trading
suspension by the Singapore Exchange.
Blumont shares opened at 40 cents before trading lower to 18 cents, down 70 cents or almost 80 per cent from its pre-suspension levels last week.
Blumont closed on Thursday at S$2.02, but its stock price started plunging on Friday, leading the local bourse to issue it a query and subsequently suspend its trading activity.
Investment firm Asiasons opened at 80 cents before heading lower to trade around 20 cents a share, down 84 cents, or 81 per cent.
Blumont shares opened at 40 cents before trading lower to 18 cents, down 70 cents or almost 80 per cent from its pre-suspension levels last week.
Blumont closed on Thursday at S$2.02, but its stock price started plunging on Friday, leading the local bourse to issue it a query and subsequently suspend its trading activity.
Investment firm Asiasons opened at 80 cents before heading lower to trade around 20 cents a share, down 84 cents, or 81 per cent.
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CW,
ReplyDeleteIt reminded me of the interesting stories my older colleagues told me of their CLOB trading days.
Many punted the Malaysian stocks as they can be multi-baggers in less than a year. Of course they can also plunge like our 3 designated stocks today too...
These stocks are not S-chips. I wonder who punters will "blame" now?
I missed my penny stocks punting days too. Keep reminding myself not to look back.
When starting with small capital, it's natural to be drawn to penny stocks. But no regrets. I've tried it and gotten it out of my system. Now I've moved on to other vehicles.
It is not fair to view all pennies in bad light just because of 3 to 6 black sheeps.
ReplyDelete1) How difficult to manipulate Large Cap?
ReplyDelete2) How difficult to manipulate Penny stocks?
What is in the answer?
Big or small companies, let's hope there is no repeat of CAO, Pan Electric (during CLOB days), etc. in Singapore Also, remember Enron?
ReplyDeleteHuge difference between Financial Fraud and Manipulation
DeleteWhen there is price manipulation then we will need to be wary whether there are financial, operations, management irregularities involved e.g. insider trading, other fraud offenses. That’s why need to query these companies when their price being manipulated, just in case.
ReplyDeleteMoney Honey,
ReplyDeleteIt's never about the "labelling".
It's more about a rite of passage for most investors.
Just like looking back, we laugh at the silly and potentially dangerous stunts we did when we were teenagers.
Some things we only do when we are young and fearless; or don't know it cannot be done ;)