Sanichi, the stock of the day yesterday. Top traded stock with some 239 Million shares traded. The share price of the counter has soared from around 8 sen to peak around 13 sen before traded ex-rights issue. After the share go ex, it suddenly jump from 10.5 sen to closed at 14 sen and even touch 15 sen yesterday. The warrant-B of Sanichi go even ballistic, rose from 6 sen to peak at 13.5 sen and finally closed at 12.5 sen. It is 100% gain in just one day. What interesting is what actually push the stock to higher than before the rights issue went ex. Can you use Fundamental analysis (FA) or Technical analysis (TA) to explain this? Apparently not, only MBA can explain this. What's MBA? It is my own acronym for Market Buyer Analysis. What you need for MBA is to scan through the market and see WHO BUY WHAT. The main reason behind this is that MARA institution bought into the company after the rights issue went ex at average 11.2 sen. Currently they hold 18 Million shares or 5.14% stake in the company. Well, I guess fellow investors, traders and punters must think that since they 'invest' in PDZ at 18 sen and the share went on spike to peak at 42 sen, an 233 % increase, this time they went into Sanichi at 11.2 sen, it should easily reach 26 sen by early next month. I think a name is just what it needs for stock catalyst. Mind you, news is that MARA might further increase their stakes in the company. NICE......
Whoever hold the shares and subscribes for the rights issues must be laughing all their way to the bank now. That's why the share price soared just before the right issue ex. As always, someone knows something that we don't.
To be fair, they do mentioned that they intend to move into property development by acquired a piece of land in Malacca for RM 7.7 Million. Is this the catalyst? Emm... personally I don't think so.
So, FA? TA? , Nah... I think better go MBA!!!
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