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Come on Stanley.. the way you see market movements way out la...
For the past 30 minutes, situation were a bit liquid. buyers and sellers fought every sen they can get.
Seeing this, sellers sacrifice their target profit to lower selling price. I dont think this is a wise move.
There are players fending off panic selling.
Now, situation already easing. Buyers are picking up.
We hope sellers will change their mind knowing they can get more profit by repositioning their selling price.
This is my quick research on Hongseng.
Hongseng was a loss-making company beginning in 2013 until 2020. From 2020 onwards, Hongseng earnings has increased from 4.5mil to 101.7mil to date. Hongseng launched several initiatives to boost her earning in 2021 by acquiring several companies. Hongseng profit margin is growing. Hongseng ROE is 38% whereas ROCE is 25.7%.
That is why there are many private/public companies+institutions are Hongseng's major shareholders as high as 72%. MarketCap is 1.25bil
If you want to make a quick 1sen, wait until Hongseng broker made his move. Buy when he shorts. Sell when ppl stop selling.
This is not the time to buy Hongseng yet..
you need constantly think how to make money. Sometimes it's OK we loose money and use that money to make money elsewhere. there is no point keeping your money when there is no sign to get back your money with profit.