AEM share price in perfect storm
LIFETIME MEMBERSHIP What a perfect storm for AEM share price. Investors must put on their seat belts and braced for a roller-coaster ride. Year-to-date, AEM share price tumbled 18.9% to reach the current $4.25. The collapse of AEM share price occurred right before the release of FY2021 financial result. Is this a sign of things to come for AEM share price?
Apparently, the cocktail of headwinds – the unfolding Ukraine-Russia conflict and looming interest rate hikes – had knocked the wind out of AEM’ sail. To rub salt into injury, the USD counter had received poor reception, effectively dashing hopes of a NASDAQ listing. The resulting outcome is a crisis of confidence for AEM share price.
For the past two weeks, data extracted from SGX portal showed that AEM had been on the top ten net sell institutional list. The week of 7 Feb 2022 saw the counter topping the list, with $22 million worth of shares being net sold by the big boys. It seems that big boys are fleeing the counter. This could explain the downward trend of AEM share price in recent weeks.
To be honest, it is hard to imagine Non-Executive Chairman Loke Wai San pulling another rabbit out of the hat. In August 2021, the management released a set of poor 1HFY2021 result at late night (10:48PM). Usually when a listed company announces its financial result at late night, it can only mean one thing – disappointing financial result. That night, many investors could not sleep well. Consequently, the next day, AEM shocked the market by announcing the entry of Temasek. This time round, let’s hope that the financial result will not be released late at night.
Apart from the FY2021 financial result, all eyes will be on the sales guidance, if any. On …
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