The past couple of days have been crazy...there was a sudden
surge in prices of penny stocks based on NO
fundamentals at all. For example, IPCO which gained nearly 100%
within few days. This is not investing, it is punting liao.
Market now in speculative/gambling mood, if u wanted to benefit, u
should have bought lonnnng ago...not now.
Generally speaking, property counters will continue going up, i
recommend a buy call on Capitaland and Keppeland because IR results
announcement coming soon. And to add on, these are companies with
good fundamentals and prospects, the premium price(ie above NAV) is
worth it.
Last but not least, avoid buying into penny stocks like Xpress and
Ipco now, the price now is not justified at all.
I just checked the papers, P/E ratio for Xpress is 80+ now, wtf
man. Whoever buys into it now are gamblers.
