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| Up Up Up & Away |
Wow!! Anyone managed to grab E&O-CA when it was a only RM0.005 can be seen smiling happily to the bank. With an unbelievable gain of 3200%, it is indeed a "durian runtuh".
The reason for the huge gain is the talk that SC is ordering SIME Darby to do a general offer for E&O. (Of course it is hearsay)
E&O-CA strike price is RM1.6 with a 2:1 exchange rate, making its intrinsic value to be 0.150 cent a piece. But it close at RM0.165 with some time premium and possible additional upside come this Monday.
Ever wonder why E&O can gain a very high percentage gain without hitting the LIMIT UP, Just see my previous post on Bursa Malaysia definition of LIMIT UP & DOWN.
An article from theMalaysianInsider may spark the speculative buying -> The article .
SC to order Sime general offer for E&O, say sources
KUALA LUMPUR, Aug 10 — In a volte face, the Securities Commission (SC) will now order Sime Darby Bhd to make a general offer for Eastern & Oriental Bhd (E&O) shares after buying a 30-per cent stake last year, say government sources.
The Malaysian Insider understands the decision was made after a review by the leadership under new SC chairman Datuk Ranjit Ajit Singh.
Notice that the source is not specified. (wink wink, if I were to know that such a post will be posted, I will sapu E&O first, and be laughing to the bank after the fiasco. If only www.knowthymoney.com were that influential like the local business media portal)
UPDATED - This may prove nightmarish for Friday's punters-. source: TheStar article
KUALA LUMPUR: Sime Darby Bhd does not have to make a general offer for the remaining shares in Eastern and Oriental Holdings (E&O) after it acquired a 30% stake, according to the Securities Commission.
The SC said in a statement on Friday that its position on the GO requirement in the Sime Darby-E&O acquisition remained unchanged as per the statement issued on Oct 11, last year.
means if we buy this stock can earn a lot?
Lonely, this stock go up because of rumor and no fundamental at all. So it is very risky and is considered gambling.
When went down hugely because the good news turned out to be rumor. Avoid like a plague, since this is high risk.
I see, sigh.. I need money.. Very sad..