TOPGLOV has hit my second expected target of RM2.00 yesterday. First target RM2.30 and was spot on achieved in early November 2021. I started following this name since November 22, 2020 and has been posting numerous posts and warnings of it coming down. Yet I get laughed at with people saying how can a profitable company fall to RM2 from a whopping RM7+ after bonus issue?
Well, look at how it fell. To me, whether the company is profitable or not, it doesn't really matter, because prices are moved by supply and demand. It doesn't matter at all if its a profitable company or not, fact is it is sliding down, the actual question you should ask is what are you going to do about it given that it is sliding down. Not sit there and continue to be in denial hoping it will make a comeback and continue to gather all possible news to support your bagholding. That's living in denial.
Hope we learn a lesson from this.
Expecting it to hover around RM1.80-RM2.00 for now. Wil definitely not buy this.
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