Top movers alert: Call warrants over Nio, SATs and City Dev dominate top gainers table
🔝This morning, call warrants tracking the Singapore shares of SATs, City Dev and Nio SIngapore are dominating the top movers table with gains as much as 100% as of 917AM
1⃣ $NIO Inc. USD OV(NIO.SI)$ the shares are trading 7.1% higher to USD 5.74 as of 950AM after the company launched its flagship ES9 SUV yesterday with prices as low as 390,000 yuan (USD57,470) when paying for battery power on a separate, monthly basis
According to Nio, the SUV is the largest in China
The company had reported strong first quarter results last Wednesday, revenue of 25.53 billion yuan ($3.70B), up 112.2% YoY and above the $3.55B consensus estimate
Nio's share price however, sold off sharply post earnings, declining 6% in three days
Nonetheless, today's rebound has completely erased its post earnings share price loss
2⃣ $CityDev(C09.SI)$: with another 3.8% gain this morning to $8.55, City Dev shares are now up 9% over the past seven trading sessions while trending City Dev warrant $CityDev MBeCW260930(TPWW.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/TPWW) is more than 8 times higher over the same period with a 81.2% surge to $0.029
City Dev had gained 5% last Tuesday after the company announcement that Kwek Leng Peck would rejoin the board as Vice Chairman and non-executive director from 1 June, nearly six years after resigning over disagreements related to City Dev's investment in a Chinese property group and management of its British hotel arm (The Business Times)
$SATS(S58.SI)$ : the share price is on a 5-day winning streak, delivering a stellar 17% return over the past five days to trade at $3.79 as of 1005AM
Trending SATS call $SATS MB eCW260930(MPEW.SI)$ (https://warrants.com.sg/tools/HistoricalPerformance/MPEW) has gained 175% over the same period, more than ten times the rise in the share price
The recent gains are mostly driven by its results announcement after-market on 25 May, as full year revenue rose to a record high of $6.35 billion, beating the $6.15 billion consensus estimates
Its management reaffirmed its FY2029 targets of S$8 billion in revenue and a 20% EBITDA margin. CEO Kerry Mok indicated that if spare cash is available after ordinary dividends and capex, SATS may issue a special dividend or conduct a share buyback (The Business Times)
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