Flying price of RAK Cement Company
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Flying price of RAK Cement Company

 
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D0nQuixote
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Joined: 12 Mar 2008
Posts: 48

Flying price of RAK Cement Company

Posted on Mon 26 May 2008 20:02 by D0nQuixote 		Reply with quote

Yet another company that has dwindling profitability and a share price that is overtaking the A320s of Air Arabia. Their stock has advanced by more than 8% everyday for the past three days. Their net profit for the first quarter was down 63% over last year and they are clearly struggling! And they too issued a statement saying they had no idea what the reason was for the price increase! This seems to be a norm in the UAE markets i.e. profits fall, stock price rises and company management shrugs their shoulders! Ring a bell? ARKAN, ASMAK to name a few...

Such a young, illiquid, emerging market; they have a long way to go. And then ESCA comes up with the brilliant idea of 'certifying' analysts because of what they call "differing valuations". Has anyone heard anything so stupid? If ten people are made to sit in a room and value the same company, their valuations will ALWAYS be different. Anyway, I am going off-topic here! Comments?

Does anyone else notice that I am awfully bitter today? Razz
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sharewadi
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Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle

RAK Cement light as a feather

Posted on Mon 26 May 2008 20:18 by sharewadi 		Reply with quote
D0nQuixote wrote:
Does anyone else notice that I am awfully bitter today? Razz

Ha ha, yes, but I enjoyed reading your post Smile.

I've been scratching my head about RAK Cement (RAKCC) also. I guess this just goes to show that fundamentals count for little in these markets. Either that, or RAK Cement has found a cheap energy source ... oh no, wait, they said they didn't have any pertinent information.
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thajuddeen
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Joined: 15 Apr 2007
Posts: 1694
Location: UAE

Kids play?

Posted on Mon 26 May 2008 23:01 by thajuddeen 		Reply with quote
It's like kids play.

ESCA and ADX market control should do something to control these manipulations.
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