$UG HEALTHCARE CORPORATION LTD(8K7.SI)$It’s a buy. Sentiments overflow from the news that top glove capacity shut down 50% cos of covid plus their gloves banned in America. Thus top glove down 7% today naffect counter like ug healthcare. I m buying.Firstly ug is not affected. Capacity was not shut down n only 5% now already resumed. There is a rumour china will started producinggloves but guys let’s be clear that Malaysia can manufacture cheaper cos raw material rubber is in Malaysia and finally P/E ratio now only 2 times. Shares 40 cts and eps is 20 cts. No reason why it won’t produce similar result in the coming fy. Thus oversold cos of sentiments
There is a downwards reaction to this news.$2b in comparison to its market capitalisation is manageable. More interest thereafter on nio. The drop is a good chance to accumulate. Stay on course. Funds will be useful to expand.
As the placement is priced to market price, as said I doubt the share will move downwards. Post trading went as Low to $39. Now pre trading slowly moved up to $39.45 right bowl buy if the share go back to near $39