iFAST share price crashed into sea

Chinese New Year Special Offer! The wheels finally came off the wagon for iFAST share price. From nearly $10 in October 2021, iFAST share price plunged 38.7% within three months to reach the current $6.10. Year-to-date, iFAST share price corrected 26%. The devastating meltdown of iFAST share price caught many investors by surprise, not least due to a confluence of factors. One of my Lifetime Members reached out to me and sought my insights.

My last article on this counter was a year ago – 25 January 2021. Back then, iFAST share price was trading at around $5.20 and I had warned that there was tell-tale sign of a massive bubble building up. My opinion was that retail investors should be cautious of being caught with their pants down when the tide turned against them. In 2021 alone, volatility of iFAST share price had attracted three SGX queries. Despite so, iFAST share price went on to confound investors to hit almost $10 in October 2021.

iFAST share price

For investors who had exited at $10 and made a killing from iFAST shares, they must be laughing all the way to the bank. For those who had entered when iFAST share price was trading nearly $10, should they run for their lives or be the last man standing? This is a tricky question because it is certainly not the end of the road for iFAST share price. In this article, I will provide a balance analysis on the outlook of iFAST share price in the coming months.

Like many other growth stocks in SGX mainboard (Nanofilm and AEM Holdings), iFAST is not for the faint-hearted. News of the impending US Federal Reserves interest rate hikes had hammered these stocks left, right and centre. Year-to-date, Nanofilm share price dropped 25% while AEM’s declined 12.4%.

History has proven that iFAST share price is capable of self-imploding. On 4 December 2020, iFAST share price plunged from $3.90 to $2.70 on 7 December 2020. The swift collapse of iFAST share price was triggered by the announcement of the company’s failure to secure a digital wholesale bank (DWB) license from Monetary Authority of Singapore.

Indeed, the DWB flop had punctured the form of iFAST share price. But not for long as the counter recovered to continue its spectacular rally in 2021. The rocket form of iFAST share price was due to the Group’s announcement of its bid for a digital bank license in Malaysia on 30 June 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 iFAST before. Whether iFAST 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

iFAST share price in bizarre journey

Just like Singtel, iFAST is acquiring a bank to provide “foundation layer” for its digital bank ambition. Nonetheless, market’s violent reaction to its recent $73,384,000 acquisition of UK Bank – BFC Bank – seems to suggest that [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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Updated: February 2, 2022 — 12:52 pm

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