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BCEL closes down 7.8% this week
The stock peaked on Tuesday and closed at a record US$1.92 that was up + 208% of its IPO, which was 62 cents on January 11. So it was very tempting for smaller investors to take profits.
By Friday the price fell 22 percent to close down at US$1.65, which was a net weekly loss of 7.8 percent.
To date the stock has turned over 2.69 million shares for 4.47 million with a market capitalisation of US$226 million.
While the BCEL share price appears to be in a “bullish” mood, investors should realise the stock is trading at a premium to its IPO.
At Friday's close BCEL's stock price was up an outstanding 166 percent since listing.
The lower volumes suggest there is some resistance from private investors and that the institutional investors haven't followed suit as they are there for the long haul.
Volumes are your best trading guide for BCEL which still rates at an unchanged hold and accumulate.
vientiane times
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