Archives for July 2019

The Lab doubles price in two days

July 29, 2019 by

Kimala Bennett, Managing Director of The Lab.

Advertising agents, Limners and Bards, the most recent listing on the Junior Market, more than doubled the $1 IPO price since listing on Friday, after rising 80 cents on Monday to close at $2.10.
The stock is one a day when 34 securities changed hands, down from 30 on Friday, as prices of 11 securities advanced, 12 declined and 11 remained unchanged.
 At the close, the Junior Market Index climbed 41.05 points to close at 3,384.41 and is now up 4 percent for the year.
Market activities, resulted in an exchange of 6,233,349 units valued at $30,586,927, compared to 4,017,691 units amounting to $20,933,388 on Friday.
By the close of trading, Blue Power ended at a 52 weeks’ closing high of $14.40 and Stationery and Office Supplies ended at a 52 weeks’ high of $12.20 but Jamaican Teas that traded at a 52 weeks’ high of $5.99 failed to hold this price at the close.
Trading ended with an average of 183,334 units for an average of $899,616 in contrast to 133,923 units for an average of $697,780 on Friday. The average volume and value for the month to date amounts to 100,126 units with a value of $397,886 for each security traded, compared to 95,347 units with a value of $356,070 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks closing with bids higher than their last selling prices and one closed with a lower offer.
Stocks ending with price changes|AMG Packaging exchanged 47,666 shares to close at $2.10 after falling 14 cents, Blue Power ended trading with 61,676 shares, after rising 90 cents to close at a 52 weeks’ high of $14.40, Blue Power closed 90 cents higher at $14.40, with 61,676 stock units trading. CAC2000 declined 15 cents in trading of 41,845 units to close at $14.95, Caribbean Cream close with a loss of 7 cents at $4.93, ion the swapping of 31,728 shares, Caribbean Flavours gained $2.07 to end at $16.07 with 1,512 stock units changing hands, Caribbean Producers ended with a loss of 1 cent at $4.79 trading 19,752 stock units. Consolidated Bakeries closed trading of 148,767 units and gained 10 cents to end at $2, Derrimon Trading closed 5 cents higher at $2.70, with 34,264 stock units trading. Express Catering climbed 5 cents, exchanging 122,992 shares at $6.30, Elite Diagnostic ended trading with 66,571 shares, after rising 8 cents to close at $5.40, Fontana lost 10 cents in trading of 845,254 units to close at $8.40, Gwest Corporation ended with a loss of 1 cent at 1.54 with 203,184 stock units changing hands. Honey Bun lost 75 cents in trading of 31,241 units to end at $5.30, Indies Pharma closed 4 cents higher at $3.06, with 35,000 stock units trading, Jamaican Teas dipped 25 cents in trading of 2,059,280 units to end at $4.75, after trading at a 52 weeks’ high of $5.99 earlier. Jetcon Corporation closed 5 cents higher at $1.95, with 58,152 stock units trading, Limners and Bards traded 69,589 units and gained 85 cents to end at a record of $2.15 after trading at an intraday high of $2.40, Lasco Financial ended with a loss of 1 cent at $4.59 with 1,564,185 stock units changing hands. Lasco Manufacturing close with a loss of 5 cents at $4.20, in swapping 100,663 shares, Main Event lost 64 cents in trading of 12,141 units at $7.35. Paramount Trading closed 30 cents higher at $2.30, with 500 stock units trading, Stationery and Office Supplies gained $1.20 to end at a record close of $12.20, trading 2,268 shares and tTech declined 30 cents in trading of 5,000 units at $5.20.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Prices rise on TTSE – Monday

July 29, 2019 by

Trinidad & Tobago Stock Exchange Head Quarters

Trading on the Trinidad & Tobago Stock Exchange on Monday resulted in a big rise in the market indices with the Composite Index jumping 16.95 points to 1,416.38, the All T&T Index gaining 2.96 points to 1,779.76, while the Cross Listed Index rose 4.28 points to close at 142.65.
Market activity ended with 15 securities changing hands against 10 on Friday, with 6 advancing, 3 declining and 6 remaining unchanged. At close, 317,614 shares changed hands with a value of $3,871,570 compared to 96,621 shares at $1,288,309, on Friday.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended with one stock closing with the bid that was higher than the last selling price and 2 with lower offers.
Gains| Grace Kennedy concluded trading with a gain of 5 cents to end at $3.35, with 130,000 stock units changing hands, Guardian Holdings added 25 cents and completed trading at $18.50, with investors exchanging 26,054 shares, NCB Financial gained 55 cents to close at a record high of $10.75, after exchanging 20,000 shares. Republic Financial increased 19 cents to end at $121.20, with investors exchanging 2,479 shares, Trinidad & Tobago NGL rose 5 cents in trading 5,511 units to close at $28.30 and Unilever Caribbean gained 98 cents and completed trading of 3,000 shares at $24.98.
Losses| Massy Holdings lost 8 cents in ending at $55, with 10,805 units crossing the exchange, Sagicor Financial dropped 10 cents and settled at $10, with 1,965 stock units changing hands and West Indian Tobacco ended trading 4,580 shares for 5 cents lower to $110.20.
Firm Trades| Clico Investments Fund traded 8,391 shares to close at $24.10, First Caribbean International Bank settled at $8.34, with 8,000 stock units trading, First Citizens Bank concluded at $40, with 3,146 units. JMMB Group settled at $2.50, after exchanging 57,080 shares, Scotiabank ended at $59.75 after trading 8,122 shares and Trinidad Cement settled at $2.45, with 28,481 stock units changing hands.

Prices of securities trading are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Market watch spotlight on Junior Market

July 29, 2019 by

The focus this week is the entire Junior Market that remains severely undervalued, notwithstanding that it made up much-lost grounds in the past week. The Lab is the first stock to watch from this sector.
NCB Financial third-quarter results were far from inspiring with operating profit being lower in the quarter than for the prior year’s results, at the close on Friday there was good selling on offer that seems likely to keep a lid on the price for a while.  NCB reported Operating profit of $6.46 billion in the June 2019 quarter, down from $8.14 billion in 2018. A $700 million net gain in associated company results eased the difference somewhat.
Barita Investments is back at the record high of $83 it closed at the close on Friday, up from $72 at the end of the previous week. Importantly, supply has mostly dried up except for a block of 1 million units offered by Barita at $98 per share. Shareholders passed the resolution at last week’s extraordinary general meeting for a rights issue that will see 106 million shares or around one for every 15 shares of shares owned offered to shareholders, at an expected price in the $40 region.

Barita eyeing acquisition.

Results for Caribbean Cement are out by but reports indicate that the company reported increased sales for the June quarter but lower profit than in 2018, due mainly to $485 million incurred as foreign currency losses. The company reported 43 cents per share versus 79 cents in the similar quarter in 2018. For the half-year, Carib Cement reported earnings of $1,79 compared to $1.18 in 2018. The company looks like earning $5 per share for the full year with increased second-half sales. Do not look for the price of the stock to move up any time soon, with these results
Jamaica Broilers and Jamaica Producers may not break out just now but there is very limited selling and good news could push them higher at any time. Investors who thought that the sky was the limit for Wigton Windfarm may be having second thoughts with the company posting their full-year results, with earnings excluding foreign exchange gains or losses working out at 5 cents per share going forward. The stock seems poised to remain under $1 for a long time. More selling came for Radio Jamaica in the past week but with first-quarter results due mid-August, the stage could be set for a break beyond the $1.40 price level.
Sygnus Credit Investments is coming into its own with a limited supply of the stock for sale, the price closed at a record high at the close of the past week and may and could move higher this week. investors should continue to watch it. Wisynco Group traded close to $30 in the past week pushing the PE up considerably. It could settle just below the $30 range for a while.

Drax Hall branch of Elite.

The Junior Market finally found its footing in moving solidly higher during the past week to within less than 100 points from the previous record high in 2018. With the entire market severely undervalued, just about all stocks are to be watched. Some are more attractive than others and should enjoy a greater focus.
Blue Power closed on Friday with strong buying interest that suggests higher price ahead arising from a proposed split-up of the company into two separate ones. Caribbean Flavours has a limited supply of stocks for sale and is worth watching. Fontana pulled out of the fall to $7.41, in the previous week as demand pushed the price over $8. The branch in Kingston could influence investors to add the stock to their portfolio. Elite Diagnostic with rising demand and slowing supplies could bounce, having traded at $5. The company’s new Drax Hall branch in St Ann is set to open in August and will add to revenues and profit at a later stage. Elite has more than 387,000 units on offer at $5 and that could constrain upward price movement for some time. Jamaican Teas reported nine months results of 32 cents per share compared with 20 cents last year. Investors reacted positively to the results pushing the stock up to $5, but supply on sale is limited and could encourage more price movement this week. Lasco Financial price bounces around $4.50. The stock is undervalued and should see increased buying interest, with release of June quarter results, due out shortly. In 2018, first-quarter results were released on the 17 of July. Lasco Manufacturing released first-quarter numbers on the 31 of July last year and Lasco Distributors released theirs on the 19. The results could move the price of the stocks higher. Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands on the first day of trading, the stock closed with the bid at $1.65 and looks poised to hit $2, the stock was on offer at $2.95 at the close on Friday. Medical Disposables looks poised to move higher and first-quarter numbers will play an important role in further gains and Stationery and Office Supplies hit a record of $12 during the past week and should move higher with little supply offered for sale.

Filed Under: Stock Market, Stocks to watch Tagged With: , , , , , , , , , , , , , , , , ,

The Lab jumps IC TOP 10

July 28, 2019 by
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Fresh from its recent successful IPO, shares of Limners and Bards (The Lab) were listed on the Junior Market on Friday.
Just 100 shares traded at $1.30 but the stock ended with the bid at $1.65 and it dropped out of the IC Junior Market TOP 10.
The Lab earnings for the current fiscal year to October is poised to be in the region of 13 cents per share. With the bid at $1.65, the PE is 12 with not many Junior Market stocks selling above this level. The bulls have now descended on the Junior Market and could well deliver a premium valuation for the company’s stock that will be scarce.
Lasco Manufacturing enters the Junior Market TOP 10 while Jamaica Broilers price dip to $32 and came into the Main Market TOP 10 at the expense of Seprod with the price rising from $46 last week to $48.40.
In the past week, the main market continues to hit new record highs, closing the week at an all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered all of the 2019 losses and more and is less than 100 points away from the all-time high of 3,436 points in September last year. Technical indicators point to the record be taken out soon and could happen this week with more results due.
The three most attractive Junior Market stocks are Caribbean Producers with projected gains of 233 percent, followed by Iron Rock with projected gains of 208 percent and tTech with possible gains of 191 percent.
Sterling Investments heads the main market with potential gains of 156 percent followed by Sygnus Credit Investments with 137 percent and Berger Paints in third spot and likely to gain 132 percent by March next year.
The main market closed the week with the overall PE at 15.8 and the Junior Market moved up from 10.20 last week to 11.4 as the market recovered grounds lost in the first half of the year. The PE ratio for Junior Market Top 10 stocks averages 7.6 and the main market PE 9. These levels, point to big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular as they lag by far, the values of the main market.
The TOP 10 stocks now trade at an average discount of 34 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 43 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis as new information is received that can result in changes in and out of the list.

This report is compiled by persons who may have an interest in the securities commented on.

Filed Under: Buy Rated Tagged With: , , , , , , , , , , , , , , , , , , , , , ,

AJI at record close of 565,797 – Friday

July 26, 2019 by

New record high for the JSE main market.

The Jamaica Stock Exchange All Jamaican Composite Index ended at another record close on Friday, the 36th record close for the year, as the JSE All Jamaican Composite Index climbed 4,042.30 points to close at 565,797.64.
The JSE Index jumped 3,673.39 points to close at 515,150.21 and the JSE Financial Index rose 0.94 points in closing at 138.25.
Market activity, resulted in 37 securities trading in the main and US dollar markets, leading to 11 securities advancing, 11 declining and 9 trading firm, compared to 36 securities trading on Thursday. VMBS Investments and Sygnus Credit Investments closed at 52 weeks’ high and Eppley 7.5% preference share closed at a 52 weeks’ low while NCB Financial traded at an all-time high of $249 but failed to hold at the level at the close. Trading ended with 35,718,490 units valued at $1,655,204,831 compared to 25,023,082 units valued at $337,036,565 changing hands on Thursday.
Sagicor Group led trading with 16 million shares for 45 percent of total main market volume, Wigton Windfarm followed with 5 million units for 14.6 percent of total volume and Scotia Group with 3.99 million shares for 11 percent of the day’s volume.
The market closed with an average of 1,020,528 units at $47,291,567 for each security traded, in contrast to 695,086 units for an average of $9,362,127 on Thursday. The average volume and value for the month to date amounts to 1,129, 518 shares valued at $16,213,671 changing hands, compared to 1,135,212 shares valued at $14,514,099 for each security traded. June closed with an average of 1,608,485 units valued at $19,605,318 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than the last selling price and 3 with lower offers.
In the main market activity, Barita Investments gained 60 cents to end at $83 trading 39,924 stock units trading, Caribbean Cement lost 90 cents trading 58,384 units at $79.10, Grace Kennedy closed trading of 7,830 units and gained $1 at $71, Jamaica Broilers fell $1.95 in trading 2,065,836 units at $32. JMMB Group traded 2,107,526 shares to close at $53 after falling $1, Kingston Wharves ended trading 2,519 shares and gained $3.49 to end at $71.99, Mayberry Investments climbed 48 cents in exchanging 4,159 shares to close at $8.60. NCB Financial traded at a record of $249, shortly after the market opened but the price drifted down and lost $1 from the previous day’s close with 144,913 units changing hands to close $219. Sagicor Real Estate Fund closed trading of 18,805 units and gained 50 cents to end at $11.50, Salada Foods traded 1,229 shares after falling by $2 to $36, Seprod lost 60 cents in trading 42,258 units to close at $48.40. Scotia Group declined 50 cents in trading of 3,983,856 shares at $55 Sygnus Credit Investments closed trading of 15,100 units and gained 40 cents to end at a record high of $16.90 and Sterling Investments traded 452,602 and gained 40 cents to end at $3.95.
Trading in the US securities market resulted in 253,518 units valued $53,056 changing hands with Proven Investments lost 2 cents in trading 193,518 shares, to close at 24.01 US cents and Sygnus Credit Investments closed with 60,000 units changing hands at 10 US cents after falling one cent. The JSE USD Equities Index lost 3.21 points to close at 183.80 points.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

The lab up 30% first day on Junior Market

July 26, 2019 by

Limners and Bards started trading on the Junior Market but only 100 shares officially traded, as the price hit the 30 percent limitation at the first trade and no other investor was willing to sell at that price.
The stock closed at an all-time high of $1.30 but with the bid at $1.65 on a day when 30 securities changed hands, down from 34 on Thursday, as prices of 16 securities advanced, 10 declined and 4 remained unchanged.
The Junior Market Index climbed 25.27 points to close at 3,343.36 on Friday, and in so doing moved strongly into the black for 2019 with gains of 3 percent for the year.
Market activities, resulted in an exchange of 4,017,691 units amounting to $20,933,388, compared to 2,463,608 units valued at $13,106,397 on Thursday.
By the close of trading, Blue Power traded at a 52 weeks’ high of $16.30 but closed at $13.50 and Elite Diagnostic that traded at a 52 weeks’ high of $6.25 but failed to hold this price at the close.
Trading ended with an average of 133,923 units for $697,780 for each security trading, in contrast to 72,459 units for an average of $385,482 on Thursday. The average volume and value for the month to date amounts to 95,347 units with a value of $356,070 for each security traded, compared to 93,288 units with a value of $337,830 traded previously. June ended with an average of 166,169 units at $674,841 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 6 stocks closing with bids higher than their last selling prices and one closed with a lower offer.
Stocks ending with price changes| AMG Packaging declined 6 cents in trading of 6,670 units to close at $2.24, Consolidated Bakeries ended trading with 71,706 shares, after rising 10 cents to end at $1.90, Express Catering declined by 10 cents to settle at $6.25 in exchanging 8,100 shares, Everything Fresh dipped 20 cents in trading of 111,225 units at $1.30. Elite Diagnostic declined 68 cents in trading of 352,923 units to end at $5.32, Fosrich Group lost 5 cents in trading of 38,336 units at $4.70, Fontana  ended trading with 695,683 shares, after rising 30 cents to end at $8.50, General Accident gained 21 cents to end at $4.50 in trading of 137,985 units. Honey Bun lost 10 cents in trading 6,500 shares to close at $6.05, iCreate ended market activity in exchanging 7,050 shares to close at 70 cents after falling 3 cents, Indies Pharma lost 4 cents in trading 242,376 shares to close at 3.02 cents, Iron Rock Insurance ended trading with 1,500 shares, after rising 15 cents to end at $3.90. Jamaican Teas closed trading of 1,141,127 units and gained 7 cents to end at $5, Jetcon Corporation ended trading with 8,200 shares, after rising 5 cents to end at $1.90, Knutsford Express closed 10 cents higher at $11, with 2,973 stock units trading, Key Insurance closed trading of 953 units and gained 20 cents to end at $3.90. KLE Group closed 1 cent higher at $1.73, with 1,155 stock units trading, Limners and Bards climbed 30 cents to settle at a record high of $1.30 with just 100 shares changing hands, Lasco Distributors closed 15 cents higher at $3.15, with 54,500 stock units trading, Lasco Financial gained 1 to end at $4.60, trading 546,846 shares. Lasco Manufacturing ended trading with 41,900 shares, after rising 5 cents to end at $4.25, Medical Disposables climbed 31 cents in exchanging 22,800 shares at $7, Main Event ended with a loss of 1 cent to close at $7.99 with 7,062 stock units changing hands. Paramount Trading closed trading of 35,551 units and gained 22 cents to end at $2, Stationery and Office Supplies fell 1 cent to close at $11 with 5,885 stock units changing hands and tTech climbed 40 cents and exchanged 127 shares at $5.50.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trading drops on TTSE – Friday

July 26, 2019 by

NCB hits record high on TTSE on Friday.

Trading activity dived on the Trinidad & Tobago Stock Exchange on Friday, with just 96,621 shares changing hands amounting to a mere $1,288,309, compared to 1,052,606 shares at $6,701,584, on Thursday. 
Market activity ended with 10 securities changing hands against 12 on Thursday. At the close, one advanced, 3 declined and 6 remained unchanged.
At close, the Composite Index jumped 16.85 points to 1,399.43. The All T&T Index shed 1.81 points to 1,776.80, while the Cross Listed Index rose 4.92 points to close at 138.37.
IC bid-offer Indicator| The Investor’s Choice bid-offer indicator ended at 2 stocks with bids that were higher than their last selling prices and 2 with lower offers.
Gains| NCB Financial jumped 80 cents in trading 76,000 shares to close at a 52 weeks’ high of $10.20.
Losses| Clico Investments traded 11,589 units and lost 10 cents in closing at $24.10, First Citizens Bank closed with a loss of 1 cent to settle at $40, with an exchange of 2,537 units and Unilever Caribbean fell 1 cent and ended at $24, with 328 units crossing the exchange.
Firm Trades| Calypso Macro Index Fund traded 500 shares and closed at $14, First Caribbean International Bank completed trading of 360 shares at $8.34, JMMB Group closed at $2.50, after exchanging 4,000 shares. Republic Financial ended at $121.01, with investors exchanging 250 shares, Scotiabank concluded trading of 707 shares at $59.75 and West Indian Tobacco ended at $110.25, with 350 units changing hands.

Prices of securities trading are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: , , , , , , , , , , , , , , ,

FX losses cut Wigton 2019 profit

July 26, 2019 by

Wigton shares are still the most heavily traded on the JSE.

Profit before tax at Wigton Windfarms fell from $768 million in 2018 to $727 million in 2019 from sales revenue of $2.44 billion for 2019 compared to $2.36 in 2018.
The 2019 results include a net loss of foreign exchange of $177 million. The company retired loans that were denominated in US dollars and swapped them for loans in local currency at interest rates that were higher than the prior loans but removing the risk of exchange rate adjustments.
Costs are relatively stable as well as income. Depreciation accounts for $665 million of the total administrative and operating cost of $1.17 billion. The audited financial statement had finance expenses of $1.05 billion but that figure includes foreign exchange losses of $663 million, partially offset by foreign exchange gains of $486 million.
Taxation charge for the year came out at $173 million. It will be difficult for the company to earn much more for the current fiscal year to March 2019, than the 5 cents per share recorded in 2019.
Wigton ended the year with shareholders’ equity of $2.9 billion, borrowings of $6.3 billion and cash and equivalent of $1.38 billion. Current liabilities were relatively insignificant.
The stock has been trading around 90 cents on the main market of the Jamaica Stock Exchange with a PE ratio of 17 times earnings.

Filed Under: Breaking News, Company News, Company Results Tagged With: , , ,

Pretax profit up 18% at the Lab

July 26, 2019 by

Limners and Bards (the Lab) reports pretax profit of $72 million half year to April, up 18 percent versus $61 million last year on revenues of $334.5 million compared to $261 million in 2018.
After-tax profit for the six months ends at $57 million, up 9 percent against $53 million in 2018. For the quarter to April revenues brought in $145 million and delivered pretax profit of $30 million against revenues of $136 million and pretax profit of $24.5 million.
The data suggest seasonality in earnings with full-year’s income of $483 million for the year to October last year and profit before tax of $76.5 million. The 2018 half year’s revenues amounted to 54 percent of income. Of significance is a sharp fall in operating expenses from $100 million in the second quarter of 2018 to $88 million in the 2019 period even as revenues rose resulting in gross profit rising from $36 million to $57 million. For the six-month period, gross profit moved from $100 million to $125 million. Partially offsetting the gross profit improvement is a $15 million in the second quarter is a rise in administrative expenses to $26 million in the quarter but was only up by $11 million for the half-year to $51 million.
The stock was listed on the Junior Market of the Jamaica Stock Exchange today at traded a small amount at $1.30 but closed with bids to buy at $1.65.

Filed Under: Breaking News, Company News, Company Results Tagged With: , , , , ,

AJ Index up over 14,000 points

July 26, 2019 by

New record high for the JSE main market.

The JSE All Jamaican Composite Index gained 14,248.21 points to a record of 576,003.55, the JSE Index advanced 12,947.88 points to a record high of 524,424.70 and the JSE Financial Index rose 3.79 points a record of 141.10.
Bulls pushed the Junior Market index up 33.05 points at 10:15 am to reach 3,351.14 points after it went as high as 3,361.08 points after 30 minutes of trading. The index just 86 points adrift from the all-time high of 3,436 points on September 20, last year.
NCB Financial in early market activity traded at $249 but now trades at $225 while the Jamaica Stock Exchange is down to $32.
Shares of Limners and Bards, trading as the Lab, were listed on the Junior market today and has so far traded just 100 shares at $1.30, the maximum it can trade at for the day. The highest bid is now at $2 to buy 49,808 shares and offers are at $3. Investors attempted to trade the Lab at $2, resulting in suspension in trading until just after 12 noon.

Filed Under: Breaking News, JSE Combined, Stock Market Tagged With: , , , ,