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Hot Stock Media Prima share, warrant fall
by Cals Thu 06 Jun 2013, 14:06
Hot Stock Media Prima share, warrant fall
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Thursday, 06 June 2013 13:33
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KUALA LUMPUR (June 6): MEDIA PRIMA BHD [] shares and warrants fell as investors locked in profits after the post-election rally last month.
At noon break, the shares shed 10 sen or 3.51% to RM2.75 while its warrants fell 13 sen or 12.04% to 95 sen. A total of 854,100 shares and 1,100 warrants changed hands.
Media Prima's warrant was the the sixth-largest decliner across the exchange.
An analyst from Hong Leong Investment Bank told theedgemalaysia.com that investors were merely looking to make profit from selling Media Prima shares and warrants.
"The market was over-bullish after the 13th General Election (GE13) and this benefited the stocks that were seen to carry political risks. Right now, Media Prima's stock is just taking a slight correction," the analyst said.
Another analyst concurred that the current share price of Media Prima is "still OK" as long as it does not fall below RM2.70.
On the last trading day (May 3) before GE13, Media Prima shares closed at RM2.30. In less than a month, the stock gained 36.96% to RM3.15 on May 28.
This was the highest price in more than five years. Its warrants also reached a one-year high of RM1.15 that day.
Media Prima warrants' maturity date falls on December 31, 2014. The warrants have a strike price of RM1.80.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Thursday, 06 June 2013 13:33
A + / A - / Reset
KUALA LUMPUR (June 6): MEDIA PRIMA BHD [] shares and warrants fell as investors locked in profits after the post-election rally last month.
At noon break, the shares shed 10 sen or 3.51% to RM2.75 while its warrants fell 13 sen or 12.04% to 95 sen. A total of 854,100 shares and 1,100 warrants changed hands.
Media Prima's warrant was the the sixth-largest decliner across the exchange.
An analyst from Hong Leong Investment Bank told theedgemalaysia.com that investors were merely looking to make profit from selling Media Prima shares and warrants.
"The market was over-bullish after the 13th General Election (GE13) and this benefited the stocks that were seen to carry political risks. Right now, Media Prima's stock is just taking a slight correction," the analyst said.
Another analyst concurred that the current share price of Media Prima is "still OK" as long as it does not fall below RM2.70.
On the last trading day (May 3) before GE13, Media Prima shares closed at RM2.30. In less than a month, the stock gained 36.96% to RM3.15 on May 28.
This was the highest price in more than five years. Its warrants also reached a one-year high of RM1.15 that day.
Media Prima warrants' maturity date falls on December 31, 2014. The warrants have a strike price of RM1.80.
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