As at 12;30pm, total trasaction volume for SSTEEL is around 1,000,000. Assume average trasaction cost is RM2.00, that mean total value transacted is RM2,000,000 only. ( I guess many investor in I3 has more than RM2,000,000)
BUT.. SSTEEL market cap has drop RM78mil (based on RM0.18 x 443mil share).
Seem very unfair right, someone just sell RM2mil worth of share, but it cause the entire company market value drop by RM78mil.
If tomorrow another group of panic investor sell another RM2 mil worth of share, will it cause SSTEEL drop another RM78mil ?
hentara, are you their financial consultant? How would you know that they’ve got out of steel? If their absence here means they’re out. Do you see Quek/Kwek family members here?
Although steel industry is cyclical, it deserve to rate at better PE. The recent 2 quarter earning of ssteel is almost equivalent to glove industries 1 years earning.
Based on result, ssteel could be LOWEST valuation among all steel stock now, trading at PE < 4x. Expect tomorrow after today Annjoo, to reap another round of very handsome gain on ssteel.
At current price of RM2 the prospective PE ratio is only about 3 to 3.5......assuming current performance is maintained with an upward bias. Any further improvement....which is very possible....will drive the stock price towards RM5.....over the MEDIUM TERM. Just my 2 cents....people... PEACE.
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....
Huatar333
690 posts
Posted by Huatar333 > 2018-02-06 12:03 | Report Abuse
accumulating thanks for dropping lol