Nestle Nigeria Plc remained below N1000 today closing at N968 having opened at N990. The price is a 7% drop from the N975 it closed a day earlier.
For a stock that reached a high of N1250, the current loss is a temporary set back for the fledging blue chip company. Despite this fall the share price is still at a pricey 34x P.E ratio. It will be interesting to see if this share price will fall below 900. It’s year low is currently N834