Bidders for telco are now starting to make thier public announcements seeking to become the country’s 3rd telco.
Last week, CLC stock jumped from 7-8 p/s when it announced its potential telco bid. Unfortunately, it was failed to sustain the 8 level and even dropped to 7.36 p/s for two consecutive days of trading. Maybe, CLC advanced talks with foreign partners and good relationship with PRRD were few of the reasons why the company’s stock price suddenly to surge. In my own opinion, considering that the company’s main focus is shipping service todate, its chance of winning for telco bid is still mysterios.
For CLC review click here.
On the other hand, Now Corporation that had landed at 20 p/s zone last february are currently maintaining 8 p/s level for almost 2 weeks now.
Morever, the initiative of NOW Corp to execute its telco short and long term plans were certainly in line with PRRD goal, which is to give fast and reliable Internet Connection in the Philippines during his term.
For more details about NOW click here.
Below are the price movement of NOW and CLC for the last five days.
Date CLC NOW
May 11 7.15 8.41
May 15 8.00 8.03
May 16 7.70 8.29
May 17 7.42 8.38
May 18 7.38 8.66
NOW is obviosly maintaining the 8 p/s zone as shown above, in fact its stock price even surged to 8.66 last friday. Whereas, CLC stock had failed to sustain the 8 p/s level and even dropped to 7.38 p/s in Friday.
Important note, if you are planning to invest in telco stock, you might try to consider looking to the company’s real intention, that’s one of the keys.