All the trades were executed in the last half hour of trading. Almost all were buys. Obviously, some people have caught wind of something! To test my theory, let's wait & see if the buying persists tomorrow. Closed today at 21 cents, up 15%.Â
Up again this morning! 24 cents => 204 m shares x 24 cents = S$49 million market cap.
The company has S$28 m in cash & equiv. So market is valuing its business at only $20 million or so.
in the pre-GFC days, Best World was earning S$10 m a year , so the valuation based on profitability back then and today's price is just 2X PE.
I think the market is re-rating Best World higher now because of some reasons -- including the return of normal profitability (or even higher profitability). Good luck , Bestworld (the shareholder)! U must be a longtime investor sincce yyou use the same nick as the company's name.
