Posts
Romance of the 3 Kingdoms, despite the elegant name, is about a bloody past in China.
Blumont, Asiasons and Liongold remind me of the 3 sworn brothers, Liu Bei, Guan Yu and Zhang Fei. Are the 3 counters just just down on their luck? Could they not regain the lofty heights attained only a few sessions ago?
Today, the counter opened at 30c, 17c higher than the closing price of 13c yesterday! To those brave enough to buy at 13c yesterday, congratulations. Short covering in progress, perhaps?
Like I said on my Facebook wall, I hope no one was exposed or overly exposed to the carnage. I wonder if people would look back and romanticise this whole episode when it finally ends.
Of course, I also wonder if there will be an episode 2.
Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd have shed up to S$8.7 billion ($7 billion) in combined market value since Thursday's close, transforming the companies back into the penny stocks that they once were before the strong run-up in their shares this year.
Source: REUTERS
Bloggy Award