Chart: GPacket's daily chart as at May 17 (courtesy of Quickcharts)
Note: In this post, I have not examined the company's financial performance nor financial position.
Friday, May 18, 2007
GPacket has broken its uptrend line
GPacket share price dropped by 28 sen to RM3.92 at 11.00 a.m. With this sharp fall, GPacket has broken its long-term uptrend line support at RM4.16/20 as well as its "horizontal" support of RM4.00. Without a quick recovery, this stock may slide further.
Chart: GPacket's daily chart as at May 17 (courtesy of Quickcharts)
Note: In this post, I have not examined the company's financial performance nor financial position.
Chart: GPacket's daily chart as at May 17 (courtesy of Quickcharts)
Note: In this post, I have not examined the company's financial performance nor financial position.
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2 comments:
how do u think about its Q1 result? i believe the purchase of next tel will not contribute positively to the bottom line. GMO also not doing well. everything is about WiMax now?
I had a quick glance at GPacket's result, which was announced on May 10. We can see that the latest quarterly result shows a decline in both topline & bottomline when compared to the immediately preceding quarter. For example, its net profit dropped 35% to RM10.0 million in QE 31/3/2007 cf to RM15.3 million in QE31/12/2006, while turnover dropped from 27% to RM31.4 million from RM43.1 million. This is the first contraction in turnover & profit since its listing.
The other thing is the new WIMAX venture. It is a very big investment in a very new technology for a relatively small company. If you follow the story of 3G investment worldwide as well as by our local players i.e. Maxis & TM, you will see that the market risk is very high. Obviously, some early investors are getting nervous about this stock & choose to take their profit.
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