07 October 2013

Asiasons, Blumont and LionGold Share Price Continue to Plunge

Last Friday they suffered massive losses in their share price, today they took another hit. I hope nobody was doing contra during this time, the kind of losses we are looking at here is massive, more than 90% of your capital would be wiped out. These stocks are very risky, I have no idea how their prices even managed to get so high in the first place and the plunge last Friday was jaw-dropping.

Heavy Losses

I feel sorry for those who didn't get to sell before the plunge, or those who averaged down, even though I'm not invested but I feel heartache for their shareholders who probably are ordinary people like me, so much hard-earned money gone in just two days of trading. I hope SGX and MAS would thoroughly investigate this, there's just too much that has not been explained, a company's share price won't just drop from the sky for nothing, very fishy.

By the way, STI closed at 3136 today, seems like getting lower and lower thanks to the US government shutdown, I think as usual they will drag until 17 Oct which is their debt limit deadline before they panic and come out with a last-minute agreement.

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