$MYEG (0138.MY)$ really bad timing, 1.2B debt, profit 700mil, still need PP rm350mil. at today's closing price of 0.875, it's a similar pattern i learnt from just recently cut loss case from$HEGROUP (0296.MY)$, once dropped below the offer price, gone case. will big fund such as FF and institutions push it back to 0.925? or snow ball back all the way to PE 9 which is around 0.8? or worst, no support at all? what do you guys think?
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AyuAnas
:
Id say the market is reacting to: 1. Crypto bearish look: directly related to MyEG’s business. 2. Jittery global market: with US bearish sentiments due to all the uncertainties from tariffs + Overvaluation correction (By end of 2024, most US stocks were inflated) 3. PP: the decision could not come at a worse time. Inflated crypto market + Good growth & results may have been the reason for their decision. I almost am certain the last month’s events were not taken into consideration. In summary, MyEG is on sale at the moment, ill be buying. To get back up, positive quarter results + clear plan (and possibly prelim results) with the raised funds to justify the PP. Price will bounce in a quarter or two to 0.97-1.02
Max The Water Blower
OP
AyuAnas
:
Nice points! at the moment i am waiting for new support, so I will still be holding on until the next quarter result.
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AyuAnas : Id say the market is reacting to:
1. Crypto bearish look: directly related to MyEG’s business.
2. Jittery global market: with US bearish sentiments due to all the uncertainties from tariffs + Overvaluation correction (By end of 2024, most US stocks were inflated)
3. PP: the decision could not come at a worse time. Inflated crypto market + Good growth & results may have been the reason for their decision. I almost am certain the last month’s events were not taken into consideration.
In summary, MyEG is on sale at the moment, ill be buying. To get back up, positive quarter results + clear plan (and possibly prelim results) with the raised funds to justify the PP.
Price will bounce in a quarter or two to 0.97-1.02
Max The Water Blower OP AyuAnas : Nice points! at the moment i am waiting for new support, so I will still be holding on until the next quarter result.
AyuAnas Max The Water Blower OP : That reminds me, to answer your question, new support @ 0.78rm (Start of 2024 price).
101517830 : This partnership with China will carry significant risks.