Hour Glass share price at 10-year high
LIFETIME MEMBERSHIP My last coverage of Hour Glass share price was in June 2019. That was nearly two years ago. Recently, a new member of SG Wealth Builder requested for my insights on the potentials of Hour Glass share price and Cortina share price. In this regard, I thought it is timely to blog about these two counters.
Between the two home-grown luxury watch retailers, Hour Glass has a much bigger market capitalization ($662.7 million) as compared to Cortina ($374.2 million). But what is puzzling to me is that both counters enjoy incredible bull runs from 2020 until now. Given that luxury watch retailers’ business is highly sensitive to economic condition, the performances of Hour Glass share price and Cortina share price have exceeded expectations.
Mind you, the global economy is still struggling under the devastating impacts of COVID-19. In view of this, what could be the key catalysts that turbocharged Hour Glass share price and Cortina share price?
In my opinion, the biggest factor for the explosive runs of Hour Glass share and Cortina share price should be the restored stability of Hong Kong market, which is the world’s largest market for Swiss luxury watches. Back in 2019, Hong Kong was mired in never-ending civil riots, causing plenty of uncertainties among investors. However, Man proposes, God disposes. COVID-19 imploded out of nowhere in 2020 to install peace in Hong Kong.
In 2019, I also pointed out that Hour Glass share price had surged because the luxury watch industry has emerged from a perennial oversupply issue. As Cortina operates in the same sector as Hour Glass, I believe Cortina share price also benefitted from the turnaround. But apart from Hong Kong and the supply dynamics, COVID-19 has helped to swing the favour to Hour Glass share price and Cortina share price. In the latter part of this article, I will reveal the key reason.
Question now is: will the recent acquisition of Sincere Watch by Cortina enable the latter to leapfrog Hour Glass in terms of market capitalization? In this article, I will share my view on the outlook for Hour Glass share price and Cortina share price in 2021.
Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market. Furthermore, I am not vested and have never invested in Hour Glass before. Whether Hour Glass share price will surge or collapse has no impact on me. Thus, this article is not meant to induce readers to make any form of investment decisions.
Hour Glass share price & Cortina share price in tight race
The acquisition of Sincere by Cortina is [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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