Read in the Business Times today about Genting Singapore. Being compared to the tech bubble that started to grow at the start of the internet age, certain analysts have issued 'Buy' signals on Genting, betting on the potential of earnings when the IR begins its operations.
However, fundamentals have been ignored for this loss making company. The optimistic glow shining upon Genting SP has sent the share prices up on a spectacular rise for the past 2 weeks, from about a dollar to $1.21. Prices have fell back to less hyped levels at about $1.06 today.
I would expect the price to drop further, perhaps back to $1. Other stocks have shown great volatility as well. Allgreen properties hit a high of $1.30 in the past week but fell back to my buying price of $1.16.
Would look at the possibility of purchasing some counters tomorrow to make up for those I had sold at the start of September. Hopefully, there would be some dips I can buy in.
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