MARKET UPDATES :
Singapore’s LionGold Corp Ltd, one of the companies at the centre of a penny stock crash last year, said it expected to report a loss before taxes for the first half of its fiscal year due to impairment losses. Share prices in LionGold, Blumont Group Ltd, and Asiasons Ltd plunged last October, wiping out around S$8 billion (US$6 billion) in market value in just two days after huge run-ups. The scandal led to a series of proposed reforms to the city-state’s stock trading rules.
STOCK RECOMMENDATION :
BUY EZION HOLDINGS ABOVE 1.080 TARGET 1.110 1.150 SL 1.050
Singapore’s LionGold Corp Ltd, one of the companies at the centre of a penny stock crash last year, said it expected to report a loss before taxes for the first half of its fiscal year due to impairment losses. Share prices in LionGold, Blumont Group Ltd, and Asiasons Ltd plunged last October, wiping out around S$8 billion (US$6 billion) in market value in just two days after huge run-ups. The scandal led to a series of proposed reforms to the city-state’s stock trading rules.
BUY EZION HOLDINGS ABOVE 1.080 TARGET 1.110 1.150 SL 1.050
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