Cosco Corporation Limited is currently listed on the main board of Singapore Bourse, Straits Times Index. It used to be a market darling had went up really high in its stock price due to the anticipation and speculation over its very high return business in shipping related areas.
Well, just a case study on Cosco Corp. The stock price had been battered down really badly since a few weeks ago when it collapsed from the $2 region and to the $1 region and finally now, below $1 at $0.67 as on 24 October 2008 closing price. There have been reports by Financial Institution downgrading this stocks saying that its potential earning will deteriorate and what have you.
Personally, I have felt that this is a very attractive stock with high potential which will once again becomes a multi-bagger. Currently, in light of the downgrade, many traders or short traders are selling it down further to a price that is unusually low as you can see now at $0.67. With its earning announcement being set on 30 October 2008 after trading hourse, I have a feeling that the result for third quarter 2008 ending September, from my personal view, is going to be better than expected.
This stock used to be more than $4 a share and due to the current panic selling admdst economic crisis. What I think is what comes down will goes up and vice-versa.
The above are of personal opinion and never at all an inducement to trade.