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first.. since early October, there already rumours saying 99 Speedmart will replace Genting. 99 Speedmart has less than 20% of shares to be traded. so it's easy to bring up the price.
second, you should have sell genting when rumours out when it was RM4.20. trust me that Genting will drop lowest RM 3.4. won't go below that
I also stuck at 4.10. I said that earlier. but I am gonna average down when it drops further. I honestly think it will be under selling pressure by those condemning LKT. eventually time will prove that Genting is too big to be excluded from KLCI
normally the big shark will know and dump ahead of us. same to how they accumulate before price jump, their margin is at least 20% profit. so from RM4.20, the max to go down would be at RM3.4.
But when to rebound I really don't know. You think other big shareholders will just sit down and let LKT fool them? most likely they will give him a few quarters to buck up
like I said, I also too optimistic about Genting. I also stuck at 4.10. but I'll average down when it goes down later. I think it will still go down. luckily my other counters are making profit
Currently Genting is at the wrong end of the business cycle. Wrong investment, high competition and changing landscape of business..all came at the same time. like it or not, it's too big to fail. a matter of time before Genting rebound strongly. any changes to the company will only see results after a few quarters..
I remember everyone was cursing YTL and YTLPower during COVID time..Many also rules out YTL bcos of bad property downturn and utility also not doing well as all business aren't allowed to operate. but see YTLPOWER and YTL now