A merger proposal and one company’s sharp jump in profits sent the Junior Market surging on Friday as investors responded to an interest by Dolla Financial in Access Financial and reported record half-year results by Stationery and Office Supplies.
The above stocks recorded sizable gains at the close, but undervalued Access put on $5.79 as some sellers of the stock withdrew offers.
The merger offer of the two financial entities is unlikely to go anywhere as the numbers do not add up.
At the close, the Junior Market Index jumped 78.30 points to 4,142.42 as the volume of stocks trading rose 182 percent and the value jumped 243 percent over Thursday as Dolla Financial led trading with 9.41 million shares for 59.3 percent of total volume, followed by Spur Tree Spices with 1.22 million units for 7.7 percent of the day’s trade and Fosrich ended with 1.11 million units for 7 percent market share.
Investors were involved in trading 42 securities up from 38 on Thursday, with 16 rising, 14 declining and 12 closing unchanged.
A total of 15,869,218 shares were traded for $64,508,991 compared to 5,618,693 units at $18,792,608 on Thursday. Trading averaged 377,839 shares at $1,535,928 in contrast to 147,860 shares at $494,542 on Thursday with month to date, averaging 455,801 units at $1,535,803 compared to 465,292 units at $1,535,788 on Thursday the previous trading day. July closed with an average of 512,709 units at $2,574,304.
The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years that fall between November this year and August next year.
The Investor’s Choice bid-offer indicator shows one stock ended with the bid higher than the last selling price and three with lower offers.
At the close, Access Financial rose $5.79 to close at $25, with 35,102 shares crossing the exchange, CAC 2000 declined $1.35 in closing at $7.65 while exchanging eight units, Caribbean Cream fell 21 cents ending at $4.09, with 5,021 stocks changing hands. Derrimon Trading rallied 10 cents to $2.40 and closed after trading 68,889 stock units, Dolla Financial advanced 40 cents to end at $3.22 in exchanging 9,405,836 stocks, Everything Fresh lost 13 cents in closing at $1.17, with 41,060 stock units changing hands. Express Catering increased 35 cents to end at $5.50 after 6,401 units crossed the market, Fontana climbed 39 cents to close at $10.18 in switching ownership of 85,689 shares, General Accident dropped 50 cents to $5, with 228,716 units clearing the market. iCreate gained 25 cents in ending at $4.25 with the swapping of 150,590 stocks, Iron Rock Insurance shed 36 cents in ending at a 52 weeks’ closing low of $2.60 after an exchange of 5,000 stock units, Jamaican Teas shed 15 cents to end at $2.70 trading 22,767 shares. Lasco Distributors popped 15 cents to close at $3 after 35,027 stock units crossed the market, 
Lasco Financial climbed 23 cents to $2.94 with an exchange of 47,418 stocks, Lasco Manufacturing lost 10 cents in ending at $4.20 after exchanging 25,540 units. Mailpac Group popped 20 cents to end at $2.35 in an exchange of 97,329 shares, Main Event fell $1 in closing at $7 after trading 17,053 stocks, SSL Venture advanced 48 cents to close at $4.10, trading 1,241 stock units. Stationery and Office Supplies rose $2 to $19 with 551,490 clearing the market units after the company posted profits that jumped nearly 200 percent to $174 million and declared a dividend of 18 cents per share and Tropical Battery dropped 10 cents to $2.65 in switching ownership of 133,290 shares ahead of the company reporting profits that more than doubled to $54 million in the June quarter from $25 million in 2021 and half nine months of $144 million compared to $59 million last year.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market stocks bounce
Stocks bounced in Junior Market trading on the Jamaica Stock Exchange on Thursday, with the Market Index rising 37.78 points to 4,064.12 after 38 securities traded down from 42 on Wednesday and ended with 19 rising, 11 declining and eight unchanged, with the volume of stocks traded falling 45 percent and the value 47 percent lower than on Wednesday.
The PE Ratio, a measure used in computing stock values, averages 12.6. The PE ratios of Junior Market incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
A total of 5,618,693 shares were traded for $18,792,608 versus 10,146,538 units at $35,165,833 on Wednesday.
Trading averaged 147,860 shares at $494,542 compared to 241,584 shares at $837,282 on Wednesday, with the month to date, averaging 465,292 units at $1,535,788 compared to 504,583 units at $1,664,672 on the previous trading day. July closed with an average of 512,709 units at $2,574,304.
EduFocal led trading with 1.05 million shares for 18.6 percent of total volume, followed by Future Energy Source with 869,353 units for 15.5 percent of the day’s trade and Jamaican Teas traded 772,230 units for 13.7 percent of market share.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and two with lower offers.
In closing, Cargo Handlers popped $1 to $15 after trading 4,163 shares, Consolidated Bakeries gained 17 cents in closing at $1.56 after switching ownership of 62,312 stocks, Dolphin Cove lost 17 cents to end at $14.83 in an exchange of 591 stock units. EduFocal rose 33 cents to $2.75 in exchanging 1,045,050 units, Express Catering shed 38 cents to close at $5.15, with 10,120 shares crossing the exchange, Fontana increased 22 cents in closing at $9.79 after trading 34,156 stocks. Fosrich rallied 15 cents to $3.37 in trading 647,712 stock units, GWest Corporation advanced 10 cents to end at $1, with 597 units changing hands, iCreate climbed 45 cents to close at $4 after exchanging 50,634 shares. Jamaican Teas declined 10 cents to $2.85 with an exchange of 772,230 units, Knutsford Express rose 10 cents to $7 after 10,000 stocks crossed the market, Lasco Distributors dropped 25 cents to a 52 weeks’ low of $2.85 after trading 58,030 stock units. Lasco Financial fell 23 cents in closing at $2.71 with 500 shares changing hands, Lasco Manufacturing increased 10 cents to end at $4.30 with 22,482 stock units clearing the market, Mailpac Group declined 12 cents to close at $2.15 while exchanging 204,030 stocks. 
Main Event climbed $1 in closing at $8 with the swapping of 13 units, Medical Disposables rallied 95 cents to end at $7, with one share crossing the market, Stationery and Office Supplies fell 94 cents to $17 in trading 54,856 units and Tropical Battery popped 11 cents to $2.75 with 233,615 stock units passing through the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Big plunge for Junior Market
The Junior Market of the Jamaica Stock Exchange dropped sharply on Wednesday, with the Market Index plunging 107.82 points to 4,026.34, with the volume of stocks traded declining marginally after 10 percent more funds entered the market than on Tuesday.
Market activity led to 42 securities trading down from 44 on Tuesday and ended with 12 rising, 21 declining and nine unchanged.
A total of 10,146,538 shares were traded for $35,165,833 compared to 10,954,252 units at $31,979,360 on Tuesday. Trading averaged 241,584 shares at $837,282 compared to 248,960 shares at $726,804 on Tuesday with a month to date, average of 504,583 units at $1,664,672 compared to 546,266 units at $1,795,806 on the previous trading day. July averaged 512,709 units at $2,574,304.
Dolla Financial led trading with 2.63 million shares for 26 percent of total volume, followed by Jamaican Teas with 1.85 million units for 18.3 percent of the day’s trade and iCreate with 1.03 million units for 10.2 percent market share.
The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows five stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial fell $2.79 in closing at $19.21 after exchanging 275 shares, Cargo Handlers lost 90 cents to end at $14 with the swapping of 201,200 units, Caribbean Cream gained 42 cents to close at $4.30, with 66 stock units clearing the market. Consolidated Bakeries shed 21 cents to $1.39 in exchanging 66,632 stocks, Dolphin Cove declined 30 cents in ending at $15 after 38,504 stocks changed hands, Express Catering climbed 33 cents to $5.53, with 65,593 shares crossing the market. Future Energy Source dipped 20 cents to close at $5.30 in switching ownership of 613,827 stock units, GWest Corporation fell 12 cents in ending at 90 cents, with 21,170 units crossing the market, iCreate shed 85 cents to $3.55 in trading 1,029,876 shares. 
Jamaican Teas rallied 30 cents in closing at $2.95 in an exchange of 1,851,771 stock units, Lasco Manufacturing lost 35 cents in ending at $4.20 with an exchange of 57,063 stocks, Lumber Depot declined 10 cents to end at $2.90, with 133,266 units changing hands. Main Event advanced 90 cents to close at $7 after exchanging 25,517 units and Stationery and Office Supplies increased 44 cents to $17.94 in trading 12,919 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading picks up on Junior Market
Trading picked up on the Junior Market of the Jamaica Stock Exchange Tuesday, with the volume of stocks traded rising 38 percent with a 21 percent higher value than on Monday, resulting in 44 securities trading versus 46 on Monday and ended with rising and declining stocks sharing 15 each as 14 closed unchanged.
A total of 10,954,252 shares traded for $31,979,360 compared to 7,922,625 units at $26,322,732 on Monday. Trading averaged 248,960 shares at $726,804 in contrast to 172,231 shares at $572,233 on Monday with month to date, averaging 546,266 units at $1,795,806 compared to 605,458 units at $2,008,639 on the previous trading day. July closed with an average of 512,709 units at $2,574,304. Dolla Financial led trading with 1.84 million shares for 16.8 percent of total volume, followed by Fosrich with 1.73 million units for 15.8 percent of the day’s trade and JFP Limited with 1.13 million units for 10.3 percent market share.
At the close, the Junior Market Index rose 10.06 points to settle at 4,134.16.
The PE Ratio, a measure of computing appropriate stock values, averages 12.7. PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows two stocks ending with bids higher than their last selling prices and one with a lower offer.
At the close, Access Financial increased $2 to end at $22 in trading six shares, CAC 2000 climbed $2 in ending at $9, with five stocks clearing the market, Caribbean Assurance Brokers rallied 19 cents in closing at $2.79 after exchanging 83,905 stock units. Caribbean Cream shed 14 cents to close at a 52 weeks’ low of $3.88, with an exchange of 25,659 units, Consolidated Bakeries declined 12 cents to $1.60 in exchanging 623,522 units, Derrimon Trading fell 17 cents to $2.35 in switching ownership of 897,374 stocks. Dolphin Cove advanced 49 cents in closing at $15.30, after 6,098 shares crossed the market, Elite Diagnostic rose 11 cents to end at $3.43 with the swapping of 2,600 stock units, Fontana dropped 35 cents to close at $9.60 after trading 159,984 stocks. 
iCreate gained 10 cents in ending at $4.40 while exchanging 364,128 units, KLE Group lost 30 cents after ending at $1.80 after trading 4,495 stock units, Mailpac Group fell 11 cents to close at $2.20 after exchanging 739,265 shares. Main Event declined $1.07 to end at $6.10 and closed with an exchange of 13,170 shares, SSL Venture popped 14 cents to $3.70, with 16,855 stock units changing hands and Stationery and Office Supplies dropped 50 cents in closing at $17.50, with 37,085 stocks crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More Junior Market decline
All the stocks listed on the Junior Market of the Jamaica Stock Exchange traded Monday, with the volume and value plunging 79 percent down from Friday, as 46 securities traded versus 43 on Friday, ended with 11 rising, 26 declining and nine closing unchanged.
A total of 7,922,625 shares were traded for $26,322,732 compared to 37,285,244 units at $127,295,549 on Friday. Trading averaged 172,231 shares at $572,233 down from 867,099 shares at $2,960,362 on Friday with month to date, averaging 605,458 units at $2,008,639 compared to 719,335 units at $2,386,208 on the previous trading day. July closed with an average of 512,709 units at $2,574,304.
Dolla Financial led trading with 2.4 million shares for 30.2 percent of total volume followed by Fosrich with 604,885 units for 7.6 percent of the day’s trade and Lasco Financial with 496,567 units for 6.3 percent market share.
At the close, the Junior Market Index dropped 25.45 points to settle at 4,124.10. The PE Ratio, a measure of computing appropriate stock values, averages 12.9.
The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
At the close, AMG Packaging shed 20 cents in ending at $3.65 while exchanging 18,567 shares, CAC 2000 fell 50 cents to $7 in trading 6,647 stock units, Cargo Handlers gained 95 cents to end at a 52 weeks’ high of $14.90, with 2,731 stocks changing hands. Caribbean Assurance Brokers advanced 10 cents to close at $2.60 in exchanging 94,353 units, Consolidated Bakeries rose 32 cents to $1.72 with an exchange of 478,898 stock units, Dolphin Cove popped 21 cents to close at $14.81 with the swapping of 52,223 stocks. Elite Diagnostic dropped 13 cents in ending at $3.32, with 25,389 shares clearing the market, Express Catering lost 38 cents to end at $5.21 as 53,200 units changed hands, Fontana declined 25 cents in closing at $9.95 after exchanging 46,770 stocks. Future Energy Source shed 14 cents to end at $5.45 in exchanging 468,925 shares, Honey Bun dropped 11 cents to close at $8 in trading 30,486 stock units, iCreate lost 20 cents to end at $4.30, with 190,479 units crossing the market. 
Lumber Depot climbed 10 cents to $3 in switching ownership of 187,906 units, Mailpac Group fell 14 cents in closing at $2.31 after 135,639 stocks crossed the exchange, Medical Disposables declined $1.15 to $6.05 trading 6,931 stock units. SSL Venture shed 79 cents to end at $3.56, with 449,140 shares crossing the market and Stationery and Office Supplies lost 40 cents to close at $18 in finishing the transfer of 54,587 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior Market dips on Friday
Trading remained elevated on the Junior Market of the Jamaica Stock Exchange Friday, even as the volume of stocks traded declined 45 percent from the big surge on Thursday, valued 42 percent less than the huge trade previously as 37,285,244 shares traded for $127,295,549 compared to 67,565,648 units at $220,496,708 on Thursday.
Trading closed with an average of 867,099 shares at $2,960,362 in contrast to 1,468,818 shares at $4,793,407 on Thursday with month to date, averaging 719,335 units at $2,386,208 compared to 671,200 units at $2,199,173 on the previous trading day. July closed with an average of 512,709 units at $2,574,304.
SSL Venture led trading for a second day, with 31.44 million shares for 84.3 percent of total volume followed by Dolla Financial with 1.54 million units for 4.1 percent of the day’s trade and Fosrich with 1.45 million units for 3.9 percent market share.
Market activity led to 43 securities trading versus 46 on Thursday and ended with 17 rising, 12 falling and 14 closing unchanged. At the close, the Junior Market Index lost 24.99 points to close at 4,149.55. The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows one stock ending with the bid higher than the last selling price and three with lower offers.
At the close, Access Financial fell $2.54 to $20.01 with the swapping of 5,389 shares, AMG Packaging advanced 10 cents to $3.85 with an exchange of 6,291 stock units, Caribbean Assurance Brokers popped 14 cents to end at $2.50, with 118,864 units crossing the market. Caribbean Cream declined 18 cents to $4.02 after trading 19,292 stock units, Consolidated Bakeries gained 10 cents in closing at $1.40 in exchanging 2,449 stock units, Dolla Financial lost 11 cents in ending at $2.84, with 1,538,020 units changing hands. Fontana climbed 22 cents to close at $10.20 in trading 82,022 shares, General Accident shed 40 cents in closing at $5.50 while exchanging 16,515 stocks, Lasco Financialrallied 27 cents to $2.97, with 1,000 units crossing the exchange. Limners and Bards dropped 14 cents to end at $2.74 after trading 15,500 stock units, 
Medical Disposables rose $1 to $7.20 in exchanging 1,000 stocks, SSL Venture increased 76 cents to close at $4.35, with 31,440,239 shares changing hands. Stationery and Office Supplies declined 10 cents in closing at $18.40 after exchanging 22,360 stocks and tTech rose 17 cents to $3.50 in switching ownership of one share.
In the preference segment, CAC 2000 9.5% preference share popped 11 cents to end at $1.16 with 672 units clearing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Trading surges on junior Market
The most prominent trade on the Junior Market of the Jamaica Stock Exchange on Thursday was SSL Venture Capital accounting for nearly 92 percent of the day’s volume and pushing the volume of stocks traded up 560 percent more than on Wednesday, with the value surging 547 percent and leading to 46 securities trading versus 44 on the previous day, with 15 rising, 24 declining and seven closing unchanged.
The Junior Market Index rose 19.64 points to end at 4,174.54. The PE Ratio, a measure of computing appropriate stock values, averages 12.8. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Overall, 67,565,648 shares were traded for $220,496,708 compared to 10,233,350 units at $34,092,043 on Wednesday. Trading averaged 1,468,818 shares at $4,793,407 versus 232,576 shares at $774,819 on Wednesday, with month to date, averaging 671,200 units at $2,199,173 compared to 244,567 units at $811,560 on the previous trading day. July closed with an average of 512,709 units at $2,574,304.
SSL Venture led trading with 61.87 million shares for 91.6 percent of total volume, followed by Dolla Financial with 1.58 million units for 2.3 percent of the day’s trade and Fosrich with 1.08 million units for 1.6 percent market share.
Investor’s Choice bid-offer indicator shows none ending with a bid higher than the last selling price and two with lower offers.
At the close, CAC 2000 dropped $1 to $7.50 with an exchange of 1,847 shares, Caribbean Assurance Brokers shed 14 cents to end at $2.36, with 38,566 stocks clearing the market, Caribbean Cream increased 16 cents in closing at $4.20 after 237 units crossed the exchange. Consolidated Bakeries fell 10 cents to $1.30, with 31,244 stock units changing hands, Dolphin Cove declined $1 to close at $14.60 in exchanging 11,774 stocks, Elite Diagnostic lost 14 cents to end at $3.45 in trading 64,485 stock units. Everything Fresh gained 10 cents in closing at $1.38 after exchanging 16,872 units, General Accident climbed 40 cents to $5.90 after trading 11 shares and iCreate rallied 10 cents to $4.50 in an exchange of 469,507 stocks. Indies Pharma popped 33 cents to close at $3.18, with 15,875 stock units changing hands, Iron Rock Insurance declined 31 cents to end at $2.96, with 6,186 units crossing the market, Jamaican Teas slipped 14 cents to $2.52 in switching ownership of 126,700 shares. Lasco Financial dropped 10 cents in closing at $2.70 after exchanging 163,334 shares, Limners and Bards rose 14 cents to $2.88 after trading 18 stock units, Lumber Depot shed 32 cents to close at $2.86 with an exchange of 33,808 stocks. 
Mailpac Group advanced 13 cents to end at $2.46 with the swapping of 166,835 units, Main Event fell 33 cents to close at $7.17 while exchanging 6,030 stock units, Medical Disposables fell $1.10 in closing at $6.20 while exchanging 14,318 shares. SSL Venture rose 71 cents to $3.59 in trading 61,865,246 stocks, Stationery and Office Supplies declined $1.35 after ending at $18.50 with the swapping of 12,918 units and tTech popped 30 cents to $3.33, with 570 stocks changing hands.
In the preference segment, CAC 2000 9.5% preference share dropped 14 cents to close at $1.05 in exchanging 271 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More declines for Junior Market
Trading activity on Wednesday was little changed at the close of the Junior Market of the Jamaica Stock Exchange from Wednesday, with the volume and the value of stocks traded 5 percent lower than on Tuesday as 44 securities traded versus 42 on Tuesday and ended with 19 rising, 17 declining and eight closing unchanged.
A total of 10,233,350 shares were traded for $34,092,043 compared to 10,799,453 units at $35,702,081 on Tuesday. Trading averaged 232,576 shares at $774,819 in contrast to 257,130 shares at $850,050 on Tuesday, with month to date, averaging 244,567 units at $811,560. July closed with an average of 512,709 units at $2,574,304.
Lumber Depot led trading with 2.56 million shares for 25 percent of total volume, followed by Dolla Financial with 1.71 million units for 16.7 percent of the day’s trade and Tropical Battery with 895,621 units for 8.8 percent market share.
At the close, the Junior Market Index lost 33.46 points to close at 4,154.90. The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, AMG Packaging rose 10 cents to $3.75 after trading 4,229 shares, Blue Power advanced 21 cents to $3.64 in switching ownership of 8,396 stocks, CAC 2000 gained 25 cents to end at $8.50, with 11 stock units crossing the market. Cargo Handlers climbed 40 cents to $14 after an exchange of 5 units Caribbean Assurance Brokers popped 10 cents to $2.50 in trading 15,822 shares, Dolphin Cove dropped 10 cents to $15.60, with 5,852 units changing hands. EduFocal gained 18 cents in closing at $2.43 after trading 89,796 stocks, Future Energy Source fell 10 cents to close at $5.50 in 373,198 stock units changing hands, General Accident rallied 40 cents to end at $5.50 while exchanging 78,000 shares. iCreate lost 15 cents at $4.40, with 547,338 stocks clearing the market, Indies Pharma declined 35 cents in closing at $2.85, with 10,613 stock units crossing the exchange, Iron Rock Insurance rallied 31 cents to $3.27 after exchanging one unit. Knutsford Express shed 28 cents to end at $7.07, with 5,383 shares crossing the market, Lasco Financial declined 20 cents to close at $2.80 in an exchange of 182,402 units, Lumber Depot gained 28 cents to end at $3.18 with the swapping of 2,556,073 stocks. 
Medical Disposables rose 30 cents to $7.30 in trading 19,561 stock units, SSL Venture shed 52 cents to close at $2.88 with an exchange of 376,363 units, Stationery and Office Supplies jumped $1.45 to a record close of $19.85 in an exchange of 45,259 shares. Tropical Battery dropped 10 cents in closing at $2.60, with 895,621 stocks crossing the market and tTech lost 40 cents in ending at $3.03 after an exchange of 5,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Junior market off to negative August start
Trading closed on the first day of activity in August on the Junior Market of the Jamaica Stock Exchange Tuesday, with the volume of stocks traded declining 36 percent and the value 33 percent lower than on Friday with 42 securities trading versus 46 on Friday with 11 rising, 26 declining and five closing unchanged.
A total of 10,799,453 shares traded for $35,702,081 compared to 16,884,408 units at $53,033,472 on Friday. Trading averaged 257,130 shares at $850,050 in contrast to 367,052 shares at $1,152,902 on Friday. July closed with an average of 512,709 units at $2,574,304.
Fosrich led trading with 3.42 million shares for 31.7 percent of total volume, followed by Dolla Financial with 1.08 million units for 10 percent of the day’s trade and Jamaican Teas with 1.07 million units for 9.9 percent market share.
At the close, the Junior Market Index lost 13.95 points to 4,188.36. The PE Ratio, a measure of computing appropriate stock values, averages 12.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial year end that falls between November this year and August 2023.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Access Financial shed 44 cents in ending at $22.55 after exchanging 5,100 shares, Cargo Handlers fell 35 cents to $13.60 after trading 3,900 units, Caribbean Assurance Brokers declined 20 cents to $2.40 after 281,964 stocks changed hands.
Caribbean Cream lost 24 cents to close at $4.05, trading 6,301 stock units, Derrimon Trading dropped 11 cents to $2.50, with 164,998 units crossing the exchange, Dolla Financial declined 11 cents to close at $2.89 in exchanging 1,083,841 shares. Dolphin Cove shed 23 cents in closing at $15.70 in an exchange of 12,106 stock units, EduFocal fell 25 cents to $2.25, with 772,572 stocks clearing the market, Elite Diagnostic gained 38 cents to end at $3.59 with the swapping of 10,738 stocks. Everything Fresh lost 14 cents in ending at $1.20 with an exchange of 76,934 stock units, Fontana dropped 20 cents to $10 while exchanging 90,488 shares, Fosrich fell 14 cents to $3.25 in switching ownership of 3,424,259 units. Future Energy Source dropped 10 cents in closing at $5.60, with 396,453 stocks changing hands, iCreate shed 31 cents to end at $4.55 after exchanging 277,538 stock units, Iron Rock Insurance declined 31 cents to close at $2.96 in trading 6,350 units. Limners and Bards lost 26 cents in ending at $2.74, with 19,978 shares crossing the market, Main Event shed 30 cents to close at $7.50 after 13,033 units changed hands, Spur Tree Spices fell 10 cents to $4.10, with 319,755 stocks clearing the market. 
SSL Venture declined 10 cents in closing at $3.40 after an exchange of 243,894 shares, Stationery and Office Supplies increased $1.40 to end at $18.40 in trading 144,384 stock units, Tropical Battery dropped 13 cents in closing at $2.70 in exchanging 345,387 shares and tTech climbed 32 cents to close at $3.43 in an exchange of 20,502 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
ICTOP10 picks remove dreaming
The ICTOP listing is meant to remove dreaming from investors’ arsenal of investment tools and place them on more solid grounds. The performance of Fosrich last week illustrates that vividly, with the stock hitting the pre-split equivalent of $54.20 on Wednesday only for the price to fall back to a low of $3 on Friday or the equivalent of $30 on a pre-split basis.
The above shows that many investors are groping in the dark, hoping that a stock with the wind behind its back must be one to buy to make money. They ignore the simple but profound principle of buying low and selling high. The other factor that shows up in the judgement is why buy the stock after the split when it is more expensive than if purchased before. this is an age-old issue where investors feel that they are buying the stock cheaper than before but in fact, they are paying more for it and therefore reduce potential profit.
Fosrich may have a bright future but what about the many stocks that are undervalued in the market, why chase expensive ones? When Fosrich reports second quarter earnings this coming week investors will get a glimpse to see whether it was smart to buy the stocks at the elevated prices last week. Investors made the same error with Salada Foods buying it at $10 when it was not worth much more than $3 now the stock is slowly adjusting to reality. Investors in Fesco at $8 are feeling the paid as the stock slowly retreats and is now under $6. Investors in SSL Venture Capital will soon discover some nastiness of speculating in the dark.
There was one change to the Junior Market TOP10 listings this past week, with General Accident returning at the expense of Dolphin Cove which rose 6 percent during the week to $15.93, the former price dropped to $5.07 from $5.99 at the close of the previous week.
Elite Diagnostic fell 9 percent to $3.21 and CAC 2000 dipped 3 percent to $8.25. Jetcon Corporation rose 9 percent to $1.27 and Caribbean Assurance Brokers rallied 8 percent to $2.60 after the company reported six months results showing a profit of $4.45 million, up from a loss of $31 million last year for the same period, ICInsider.com upgraded earnings to 45 cents per share, from 40 cents previously. The Main Market ended the week, with no significant price changes.
Investors should keep a careful watch on Caribbean Assurance Brokers, Dolphin Cove, Express Catering, General Accident, Jamaica Broilers, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Stationery and Office Supplies and Paramount Trading. Dolphin Cove, Caribbean Producers, Express Catering will be major beneficiaries of the strong rebound in tourist arrivals and the supply of General Accident has declined sharply over the past few weeks, but investors may be reluctant to pile into the stock ahead of the hurricane season.
The average PE for the JSE Main Market TOP 10 is 6.2, well below the market average of 13.9, while the Junior Market Top 10 PE sits at 6 versus the market at 12.9. The Junior Market is projected to rise by 238 percent and the Main Market TOP10 is projected to gain an average of 235 percent each to May 2023.
The prospectus for One on One IPO is out with just over 125 million shares earmarked for the wider public. The PE ratio based on the company’s projections to August 2022 is just under 7 cents per share before tax for a PE ratio of around 14.5 just above the market average of 12.9. Based on where recent IPOs are valued investors can look for a price after listing around $1.50 but investors have priced many of them closer to 30 times 2022 earnings in which case a price of $2 is not out of the reckoning.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market but not always. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to the end of May 2023 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
