Now we will know how strong the DSR stock is by noting not only its staying power (price support levels) and how it surpasses them!
Quote:
The Punch
Dangote Sugar dips further as investors take profit
By Goddy Egene and Bosede Olusola-Obasa
Published: Friday, 27 Apr 2007
The share price of Dangote Sugar Refinery Plc dipped for the third day on Thursday at the stock market as investors sold to reap part of the capital appreciation the equity had amassed since it was listed in March.
DSR, which was listed at N18 per share, rose by 211 per cent to close at N56 per share last week. Following the release of the share certificates, many investors are selling to reap part of the 211 per cent capital growth.
The resultant high supply has been pushing the share price down since Tuesday. It shed N5.51 between Tuesday and Wednesday and lost another N2.50 on Thursday to close at N47.68 per share.
Some market operators said that the price drop was normal as investors would not ignore an opportunity to realise a capital growth of over 200 per cent within one month.
They contended that the equity would appreciate again after the current bear run.
http://www.punchontheweb.com/Articl....07042622203950
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