The Nigerian Stock Exchange regularly has that wonder stock that just appreciates beyond your wildest expectations. A stock which has to the best of my knowledge not released any results this year and perhaps last year, has gained 50% in the last one week. It topped Gainers chart last week as well and has now gained 71% since its rise begun August 7th.[upme_private]
That stock is Premier Breweries and for those who intend buying the shares and riding on the gains you have your work cut out as only an average 50,000 Units has been sold daily since this week. That’s roughly about N50,000. Imagine how many people are looking to lay their hands on it? No wonder the share price keeps climbing. Who is selling and perhaps who is buying? How long will this last? Your guess is as good as mine.
| Premier Breweries | ||
|---|---|---|
| Last 7 Days Trades | ||
| Date | Price (Naira) | Volume |
| August 19th 2014 | 1.32 | 50568 |
| August 18th 2014 | 1.2 | 51382 |
| August 15th 2014 | 1.1 | 52000 |
| August 14th 2014 | 1.05 | 51000 |
| August 13th 2014 | 1 | 51800 |
| August 12th 2014 | 0.92 | 51500 |
| August 11th 2014 | 0.88 | 515450 |
[/upme_private]