This week’s stocks to watch list includes Stanbic IBTC, Dangote Cement, Pharmdeko, and SCOA Nigeria, as the companies prepare to release their Q3 2021 financials.
However, that is not the only reason some of them made the stocks to watch list, as other factors includes new financial investment and stock market-related activity.
Note that result preparation and other company activities are expected to have positive or negative impact on shareholders’ investment during the course of trading.
Ripples Nigeria Stocks Watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
Insider dealers are often a pointer for shareholders or prospective investors to take a decision regarding a firm, and in this case, that company is Stanbic IBTC.
Its majority shareholder, Stanbic Africa, paid N53.14 million to acquire 1.36 million shares in Stanbic IBTC last week Wednesday, and the next day, share value of the Nigerian lender rebounded after a one day decline.
This investment is a confidence booster for the capital market, as it implies the substantial stakeholder believes the market will rise – however, investors need to trade with caution when going into the exchange floor this week.
In preparation for its third quarter financials, Dangote Cement has announced a closed period. This might influence investors participation on the firm’s stock which has been trading flat since investors lost N78.38 billion in late August.
The result is expected to be released in October this year, so investors have until a month before knowing the financial situation of their asset, so tread carefully when visiting the capital market.
If you are looking for the best performing stock, Pharmdeko is the asset you looking for, as the firm will enter the capital market this week as last week’s best gainer.
In five days of trading, the firm’s stock value rose, appreciating by 32.1 percent following a gain of N0.52 kobo. So Pharmdeko stock will be backed by such momentum, but caution shouldn’t be thrown to the air, as the gain could trigger profit-taking among shareholders.
SCOA Nigeria is on a downward trend, as investors maintain believe that the company’s asset value will turn negative – this led to a further loss of N0.19kobo from its share price which closed last week at N0.87kobo.
The loss had began before last week, as Ripples Nigeria had reported that SCOA lost 33.4 percent from its shareholders’ investment in the first six months of 2021 – with the continuous loss, investors must be wary going into this week’s trading.
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