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 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%.
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 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.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How N70m road construction created more hardship for Sokoto residents
“To address recurrent accidents on Gagi to Gidan Dilo road and Fakon Idi roads, in Sokoto State, the Federal Government,...
INVESTIGATION: Inside Kwara school where students are used as labour on teachers’ private farms
In this report, SHEREEFDEEN AHMAD uncovered how young students in Kwara State, Nigeria, are being used for labour work on...
INVESTIGATION: How Kano SUBEB awarded contracts to inactive contractors, non-existent schools
In an effort to address issues hindering quality education, the Kano State Government in 2020 awarded N88,406,667.10 for the construction...
SPECIAL REPORT: Hike in gas price forces more Nigerians to use coal, sawdust, as smoke kills 93,300 yearly
In the build-up to the 27th Conference of Party (COP 27), Nigeria recently launched its energy transition plan (ETP) as one of...
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...