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This Stock Had Been Flat In 3 Years And Posted No Revenue Since 2007. But It Has Now Gained 62% In 2 Weeks

This Stock Had Been Flat In 3 Years And Posted No Revenue Since 2007. But It Has Now Gained 62% In 2 Weeks

NairametricsbyNairametrics
10 years ago
in Securities, Stock Market
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Check out the chart above! It’s that of Union Dicon Salt Plc a company that has been moribund in the last five years only just releasing its 2011 results some months back. However, their share price is up 62% within two weeks after being flat for about 3 years without a movement. So why is the stock rising?

Well, the company announced recently that it had just entered into a Technical Management Agreement with CBO Capital Partners Limited, an advisory and Project Development Company. Newspaper reports also indicate the deal will involve an investment of about N8billion in Union Dicon Salt Plc.

But is this why the share price should be rising at this rate? Speculators don’t really care much. Every piece of news is an opportunity to trade regardless of the risk. For cautious value investors out there, we resist such temptation and sentiments. Union Dicon Salt has posted no revenue since 2007 and that year, revenue was N111.7million. Rather what it shows are losses that have ballooned to N1.8billion.

The new deal is a good step in the right direction but not evident that a turn around is achievable within any period.

Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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