Could be due to this announcement yesterday evening..
PUBLIC SHAREHOLDINGS SPREAD JCY International Berhad ("the Company") - Status Announcement on Non-Compliance with the Public Shareholdings Spread Requirement pursuant to Paragraph 3.3 of Practice Note 19 of the Main Market Listing Requirements ("Main LR") of Bursa Malaysia Securities Berhad ("Bursa Securities")You are advised to read the full contents of the announcement or attachment at http://www.bursamalaysia.com.
We have slashed our FY13-14 net profit forecasts by 18.7% and 14.8% respectively, to reflect higher cost assumptions. Rating HOLD , TP: RM0.73 Positives - high adoption rate of cloud computing and demand for rich / high density media contents. Negatives - Appreciating Ringgit, weak global demand in PC and SDD as substitute. Valuation We downgrade our rating on the stock from BUY to HOLD after cutting our target price by 40.7% from RM1.23 to RM0.73 based on the average of US HDD brand manufacturers’ FY13 P/E of 4.8x (see Figure #5).
What la this analyst??? After slashing estimates and put new TP at 0.73, yet he call a HOLD...price from 0.845 to 0.73 HOLD meh?
This is similar to what happened after the last quarter report. Did JCY report a LOSS? No, it's just a lower profit. This is something that people have already guessed about. After all there were already concerns about its HDD business and it certainly wasn't expected to improve on quarter. So why such a sharp fall? People may suspect market manipulators but I think one obvious reason is this - it has too many contra players, and the earlier panic started a chain reaction of people wanting to cut loss.
Posted by Kent Lee > Nov 22, 2012 12:04 PM | Report Abuse
Mini... care to share how u know its accumulating at 0.71/0.715 pls?... TQ sir
if u have a live online trading screen, now u'll c that 26% of vol done at 0.715 n 30% done at 0.71. I believe they are accumulating and supporting at these levels today...can't say much for tomorrow though
Keep this report by OSK, highlight and post it to them later. 0.35...? If it really does drop down to this, I'll go to their nearest branch near Sunway Giza and bow to each and every staff including the cleaner. If it doesn't get anywhere near this, I have only one word to describe the person who wrote it - bangang.
Just to up the stake, I'll also run naked until The Curve HAHA! But OSK has to put up something too - can it give me 10,000 units of JCY if it doesn't reach 0.35 within a reasonable period?
Seems OSK's analyst more accurate than CIMB and HLIB's analyst ma! Hemmm I just wonder how simply he/she make the reviewed. Bursa should look into this matter very very seriously otherwise analyst will just make his/her own comments, assumptions and reviewing towards any company without integrity and non-ethical. Sure the price keep droping in the 2nd session coz of this non-ethical reviewed. See Mat Cendana angrily already! Mat I agree with you just go to the nearest branch. Luckily I didn't enter Jcy again since sold at 1.55 few mths back. Don't buybackma! at this point of time lor..
After current selldown there will be possible rebound. Though not a really strong one. Those who interested to earn some can go in with target < 0.78. But do execute tight cut-loss.
I believe JCY will be trading downtrend going forward, once it break below 0.70, mostly will be targeting 0.40-0.50 at this moment.
I don't have any JCY shares or its warrants this time. Was late and hesitant about jumping in last week. Everyone is entitled to his own opinion but an analyst or journalist must also practice some caution and have some reservations knowing that a lot more people would read what they say. That's unlike us here. There might be pessimism about JCY but 0.35?!
By the way, if that's what OSK thinks, it should come out with new call warrants to reflect the current situation. The warrants remaining in the market look very outdated now (except for HA, of course). OSK should come up with one at 0.70 and another at 0.50 and sell them at reasonable prices. Hey, why not 0.50 because OSK will still make money because it says JCY's TP is only 0.35!
They can't because the counter need to be traded within certain threshold of volume on daily basis for certain duration trading period & meet the minimum market capital requirement before they can issue the CW tracking the underlying.
That's why most of the issued CWs are tracking the underlying of actively traded mid-cap to blue chip counters only.
Hardly or almost none CW is ever issue to track small cap or penny stocks.
They would have wanted to issue as much as possible but they need to abide the regulation as set by Bursa. I read it from The Edge Malaysia issued earlier this year if I'm not mistaken.
Posted by Mat Cendana > Nov 22, 2012 01:14 PM | Report Abuse Just to up the stake, I'll also run naked until The Curve HAHA! But OSK has to put up something too - can it give me 10,000 units of JCY if it doesn't reach 0.35 within a reasonable period?
wow... all the way to media prima mar... then hero!
the last hero that that i know wanted to chop his own anatomy after losing his own dare in Kfima thread also never did, what makes it so sure you will do it? anyway, i wanna be there with my camera just in case! LOL
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....
rossiah
68 posts
Posted by rossiah > 2012-11-22 10:01 | Report Abuse
sudah senyap lol..takut pumya olang mau jual semua..olang lain untung ma.