Thursday, May 9, 2019

Best World - What's Next After Trading Halt Released

After some days of trading halt in Best World, the stock finally released it's halt and announced earnings of $10.3 million for the 1Q ended March, up 79% y-o-y from its earnings of $5.8 million due to higher revenue, which more than doubled to $53.4 million from $24.6 million a year ago. The stock finally seen some daylight after not being able to participate in the recent market activities. They also filed a defamation lawsuit against Bonitas since after the report, they started shorting and the stock couldn't recover.

Looking at Best World's chart, it touched the demand zone. After all the good news and results which contributed to the rise from last year Oct to this year Feb 2019, it has since encountered many short sellers and heavy selling. So I believe although it touched the bottom, still it wise to pay prudent and watch closely first before trading it again. I am not sure if it will have another trading halt if not for the results that is going to release but I am sure I won't be trading this counter until I see it stabilize.

Ronald K - Market Psychologist - A Stock Market Opportunist