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Oando tops watchlist for the second week running

@oando_plc maintains the top spot on @nairametrics watchlist for the second week running.



investors on NSE, Stock to watch this week, Airtel Africa

Stocks to watch comprises companies that would be having corporate actions this trading week, as well as picks from the best and worst performing stocks of the previous week. 

Stocks to watch is not a Buy/Sell/Hold list.  

Oando Plc  

Oando Plc takes the first spot for the second week running  by virtue of the company’s tussle with the Securities and Exchange Commission (SEC) and having its Annual General Meeting (AGM) scheduled for the 11th of June, 2019.  

It is yet unknown if the AGM will hold as scheduled, in view of the court case filed against the Securities and Exchange Commission (SEC). SEC by law, is also expected to have a representative at the AGM.

Daar Communications Plc  

Daar Communications Plc makes a surprise entrance into the watchlist this week, in view of an ongoing court case with the National Broadcasting Commission (NBC).

The NBC had suspended the company’s operating licence, following which it obtained a court order maintaining the status quo prior to the NBC’s move. 

 Further hearing on the lawsuit is billed for this Thursday. 

Wapic Insurance et al 

Wapic Insurance Plc, Oando Plc, NASCON Allied Industries Plc, Okomu Oil Palm Plc, Eterna Plc and Union Bank of Nigeria Plc all have a joint spot this week.  

Sigma Pensions

Wapic Insurance Plc, NASCON Allied Industries Plc, Okomu Oil Palm Plc, and Eterna Plc will be holding their Annual General Meetings (AGMs).  

Union Bank of Nigeria Plc will also hold an Extraordinary General Meeting (EGM) as it seeks shareholders’ approval to net accumulated permanent losses from legacy transactions amounting to N54.4 billion against its share premium.

Champion Breweries Plc  

Champion Breweries Plc has a spot this week by virtue of the company being the best performing stock last week. Investors may decide to take positions in the stock, as it is currently trading at a multi year low.  

NEM Insurance Plc  

NEM Insurance Plc also has a spot this week, as it was the worst performing stock in last week’s trading session. The stock closed down 13.14% last week, and could decline or appreciate depending on market sentiments.  

International Breweries Plc  

International Breweries Plc maintains what seems to be a perennial place in Nairametrics’ watchlistas the firm has yet to release its FY 2018 and Q1 2019 results, nor given guidance on when it will do so.  

Stanbic 728 x 90

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training.He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE).He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.You can contact him via [email protected]

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Billionaire Watch

Google founders earn $42 billion in 100 days

Impressive growth in the US economy boosted buying pressure on Google shares as its founders saw their wealth valuation surge.



Google founders Larry Page, 48 and Sergey Brin, 47 have earned more money collectively than the total foreign cash reserve holdings of Africa’s biggest economy.

Larry Page, currently worth $104 billion, has earned $21.2 billion in 100 days; while Sergey Brin, with a wealth valuation of $100 billion, earned $20.4 billion in the same period. Collectively, both men have earned $41.6 billion, dwarfing Nigeria’s foreign cash reserve which currently stands at a gross valuation of $35 billion.

The majority of Larry page’s wealth comes from his stake in Alphabet, the parent company of Google. The Standford trained entrepreneur currently holds $12.6 billion in cash.

Sergey Brin’s wealth valuation is also derived from his stake in the world’s most popular search engine and presently, his cash holding is valued at $12.7 billion.

Impressive growth from the world’s most powerful economy boosted buying pressure on Google shares and its founders saw their wealth valuation surge. Global investors are increasingly holding on the tech juggernaut’s shares as amazing economic data from America’s service industries coupled with an advance in the tech sector fueled the hike in Google shares seen in recent months.

Consequently, investors are piling significant amount of funds into Alphabet Inc., the parent company of Google, with reports saying it won its most recent supreme court case against Oracle, a case that has lingered for about 3 years.

Recent price action reveals the stock is presently trading at $2,285.88 nearing its 52-week high of $2,289.04 with a yearly return on investment currently pegged at 89%.

Sigma Pensions

Stock pundits are surprised by such record gains in Google shares despite a swift move seen lately by some institutional investors into utility, energy-based stocks and of late U.S Treasury bonds.

The company currently has a market value of about $1.54 trillion.

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XRP surges by 150% in 7 days as Ripple posts early victories against SEC

This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.



XRP, Ripple's co-founder earned $411 million from selling XRP in 2020

Amid the strong bullish rally at play in the cryptoverse, Ripple’s XRP looks to be leading the way with a push as it almost triples in value following a series of legal victories and social media rumours of relisting at some crypto exchanges like Coinbase.

This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.

At the time of writing this report, XRP traded at $1.47 with a daily trading volume of $29.3 billion. XRP is up 147% for the week with a current market value of about $67 billion.

The surge in this crypto asset is coming amid a lawsuit from the SEC which accused XRP’s $1.3 billion initial coin offering of being an “unregistered securities offering.” The allegation led most American crypto multiple exchanges to delist the crypto and XRP lost its place as the 3rd largest crypto by market value.

That being said, crypto traders appear to be backing the crypto asset amid credible reports suggesting that Ripple lawyers have posted two victories in their legal tussle against the powerful American regulator, including gaining access to internal Securities Exchange Commission discussion history regarding crypto assets.

What this means

Such access by Ripple’s lawyers to these records would offer them insights into why the Securities Exchange Commission has not deemed Bitcoin and Ethereum a security asset.

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