@Warn3r still too early to say tbh. I think I'm very lucky that I am a long-term holder with very low costs so I could afford to hold tight during the selldown knowing that I was still in profit. Not many here have that privilege, esp those who bought quite late after the limit up.
I am actually not confident anymore in saying what will happen in the short-term but if you are a long-term holder (at least 1 year), you really have nothing to worry about. Even if it drops to RM1, you will definitely see some big fish accumulating because of how stupidly undervalued it will be at that price.
And as for rights issue, for a company which really has never needed to raise cash from its own shareholders, calling a rights issue will almost certainly send the stock price into a limit down with the announcement.
Alex Ooi can forget about his own wealth tied to this stock if he does something like that because all the current shareholders will immediately dispose. And we've all seen how it only takes about 2-3 million shares to send the share price crashing from 1.70 down to 1.30.
There is no chance this could happen honestly. If it does, I will do 2 things - (1) sell-off my entire holdings immediately at whatever market price and (2) never post on this forum again. That's how ridiculous it will be if they do call for a rights issue. Asset-rich, no-debt, clear earnings visibility and you call for rights issue? I think Alex can forget about any future shareholder backing if he does something like that.
Then need ask spygame , what the reason of right issue .. if really right issue happen .. I think your friend who work inside sure gg already.. let you spread the news here. : )
@spygame007 people ask you about rights issue, you answer about morning star. Keep it up!
Also, I think you better tell us now what you mean by selldown. Price drop 1-2c for you is also a selldown so come, lets clarify before market reopens so we know if you're talking cock or not.
@The_Reds don't give him too much credit. He is neither rich nor a spy. He is just a pathetic kiasu ikan bilis.
@Warn3r I didn't talk about the rights issue because I was overthinking what he said, I did it so that others here know what a rights issue is about, why would a company call for one and what are the implications if it is announced.
@spygame007 you still have not told us what you mean by selldown. Please define so that we are clear. Just now retrace a little bit after a 10c surge and you said that was a selldown. Like that means every time drop a few cents also is a selldown lah!
@The_Reds noted, my fried haha. I am only here to put @spygame007 in his place anyways :))
when 1st flash crash happen i already warn u guys, must cut loss & standby bullets to buy right issue. but sad to said until now most of u guys still dreaming the price can rebound, hahahaha. i dont mind u guys keep calling me spydog,
I counted around 400-500K shares disposed this time. Still a lot lower than the 1.5-2.0 million during each of the last dumps. So I'd say not so not so severe - provided there no further dumps today.
@dlye7735 not necessarily. If they own less than 5% (around 5.5 million shares), they have no obligation to report their dealings. So it's possible that an operator accumulated say 5 million shares when it was ridiculously cheap and has been dumping since last week.
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selective_contrarian
157 posts
Posted by selective_contrarian > 2018-10-04 12:18 | Report Abuse
@Warn3r still too early to say tbh. I think I'm very lucky that I am a long-term holder with very low costs so I could afford to hold tight during the selldown knowing that I was still in profit. Not many here have that privilege, esp those who bought quite late after the limit up.
I am actually not confident anymore in saying what will happen in the short-term but if you are a long-term holder (at least 1 year), you really have nothing to worry about. Even if it drops to RM1, you will definitely see some big fish accumulating because of how stupidly undervalued it will be at that price.