The Nigerian Stock Exchange ended the week with a whopping 6.5% pop after two weeks of trading that help drive the leading index to a year to date loss of about 19.6% making the fastest drop in the world this year. As the sell off intensified several people joined the band wagon and dropped stocks in droves to cut perceived losses and hold on to modest gains if any. The smart and brave investors however, saw this as an opportunity and bought stocks when others were fleeing. Like Warren Buffet said “Get greedy when the market is fearful and fearful when the market is greedy.
Expectedly or unexpectedly the market bounced back last week and some who bought when the market went down are smiling to the bank. Ten stocks gained between 17% to 46% an astonishingly ‘mad’ returns considering just weeks ago it was as if the sell off had only just begun. Some of the stocks on the list are value stocks whilst some are purely bargain stocks and still overvalued in my opinion. Here is a list of the top ten losers and gainers last week.
[table “46” not found /]How did you fair last week?