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Tuesday, October 24, 2017

Supermx: It Wasn't Meant To Be

Topglov has finally come out to deny that it would be acquiring Supermx nor Adventa after the market speculated that these 2 companies could be the target of its billion Ringgit acquisition. For more, go here. 

This denial will likely lead to a selldown in Supermx back to the price level before the run-up at around RM1.80.

If you had bought into the stock because of this "news", I believe the right course of action would be to sell off the stock & take a loss rather than to hold onto the stock as a long-term investment which wasn't meant to be one to begin with. Any loss suffered in this speculation is much regretted.



Chart: Supermx's daily chart as at Oct 24, 2017_3.30 (Source: Malaysiastock.biz)

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