Forte Oil surprised many this year when it crossed N200 after more than tripling its share price in 2013. It was one of this remarkable stock stories that hardly repeats itself. Whilst we may never see a stock gain that much again, at least for now, there are still some stocks that are mostly undervalued and are now seeing the market placing the right valuation on them. [upme_private]
Last July, I valued the stock and couldn’t imagine how undervalued the stock was in my opinion. The stock was trading for N102 and was about its one year high. Even at that I thought that stock was worth double that amount. I thought the results released by the Company was awesome and based on my projections believed the stock was worth about N200. I promptly asked my stockbroker to purchase it on my behalf. The share price dipped afterwards to under N100 before climbing back upwards again.
Nevertheless the stock has gained 61% this year alone, 80% in the last 12 months and is one of the best five stocks this year. Today, the stock topped the gainers chart to close at N126.78 and gained 10% in its wake. By now you must have guessed right. That Stock is Seven Up Plc!!! Is this the start of another bullish run?? It will be interesting to find out.