Genting SP taking a walk downhill
Genting SP shares took a dive after reaching a 2 year high of 0.905$.
The main reasons for the selling pressure :-
- Genting sold 9% of its shares from Singapore unit institutions raising $615 million
- Genting SP shares were sold at a discount ranging from $0.72 - $0.76
- The reason for sale is unknown
One will associate hills with Genting. From my blogpost, i am stating as taking a walk downhill and not taking a dive downhill.
From my 2cents, it’s a major setback to Genting SP share holders but in the long run it will still be fruitful.
Conclusion
Minor setback but fruitful investment in the long run. I have added another 5000 shares of Genting SP to my portfolio. I am currently holding Genting SP at this prices :-
2000 shares = Average $0.60
1000 shares = Average $0.705
7000 shares = Average $0.735
Total = 10000 shares
Average price = $0.705
Will be gunning for more if it goes down to $0.60 ++ All the way back to the top of the hill. Slowly but surely!
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4 Responses to “Genting SP taking a walk downhill”
By ch on May 28, 2009 | Reply
future must carefull with our chairman n his family.today closed at 0.71 is it fake? agree?
By Kampung Boy on May 28, 2009 | Reply
Yeah it looks faked after the story about the sell of 9% shares by the Lim family.
BUT…
What do you think the price of Genting SP when it starts it’s casino business?
What will be the price of Genting SP 2 to 3 years from now?
0.70+- cents?
I doubt. So we are looking into long term investment and trust me there’s no other better then Genting SP! ^^