Business
Why Ellah Lakes, Flour Mills RT Briscoe are stocks-to-watch this week
This week’s stocks to watch out for as the capital market resumes are Ellah Lakes, Flour Mills of Nigeria and RT Briscoe. Their selection was influenced by the capital market activity.
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.
Ellah Lakes
Ellah Lakes will be opening this week’s capital market from the loser’s table after shareholders of the company lost 9.88% of their investment to investors sell off last week.
The sell off dipped Ellah Lakes stock, with the depreciation creating an opening for prospective investors to buy-in, placing the stock of the firm among stock to watch for this week, as the exit of funds is likely to continue.
Flour Mills of Nigeria
The manufacturer made the list of the top five decliners last week, as the share price of Flour Mills of Nigeria lost N3.10kobo, depreciating shareholders investment by 8.83%.
Read also: RT Briscoe, CWG, SCOA make stocks-to-watch list
The loss comes after its rival, BUA Foods, accused Flour Mills of plotting with Dangote Sugar to create artificial scarcity of sugar, and blackmail the Federal Government into reviewing its backward integration status.
With this claim still lingering, despite denial from FMN, the capital market might continue to react negatively towards the firm’s stock, which will sink shareholders’ investment value.
RT Briscoe
RT Briscoe has been bullish in the stock market in the last three weeks, and made it into Ripples Nigeria’s stock to watch list as investors see positive growth in the firm’s asset in the longterm.
Last week, it ended trading as the top gainer, with investment in the firm rising by 53.85%. Investors have been bullish in Briscoe, but that put the stock in the position of profit-taking by short-term stockholders, which might trigger a sell off that will depreciate shareholders investment.
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