Quote:
Originally Posted by knightofdelta
Now, I am beginning to regret not having any money to gamble. First Alum has been placed on technical suspension at the price of N5 to float a rights issues of at N2! Now, that is what I call shareholder appreciation. The company has decided to expand its operations to capitalize on the stable macroeconomy indices.
|
All the more reason why I think the stock is overvalued at N5. Who would sell something that is worth N5 for N2 (a discount of 60%!)?. Imagine the stock was trading at N10 in March, if only they had done the PO then
