The wheels came off the wagon for Jumbo share price as Temasek Holdings, along with several other major shareholders, sold off their stakes in Jumbo Group between 2017 and 2018. The flurry of selling activities saw Jumbo share price collapsing from a high of $0.72 in early 2017 to the current $0.40. Will Jumbo share price ever see daylight?
Listed in SGX Catalist only in 2015, Jumbo share price enjoyed a spell of bullish run between 2015 to 2017. For Jumbo share price, it seemed like the sky was the limit as the counter reached an euphoric high of $0.72. 2017 was supposed to be a milestone year for Jumbo as it celebrated its 30th anniversary. But in a twist of fate, Jumbo share price spiralled out of control after Temasek Holdings reduced its shareholdings and sold its majority stake to Ron Sim (founder of OSIM) in 2017.
As there are big boys involved in this counter, Jumbo share price is expected to be quite volatile. This is especially so given that the free float is only 22.9%. This means that any movements made by the major shareholders would have significant influence on Jumbo share price.
Jumbo share price …