Wednesday, June 15, 2011 7:16 PM
Today, GT Bank Plc gained the highest point of 0.75% in the last 10 days with corresponding volume growth of 267%- a surge despite the sad and painful news about the death of its former GMD/CEO, Mr. Tayo Aderinokun; a man widely adjudged as the most credible example of the best banking and bankers represent in the last two decades.
Though the price appreciation appears very weak less than 1%. More light will be thrown on the technical analysis which we will release next week.
From the analysis done so far, the trend is likely to indicate investors confidence level towards the brand/stock and the inevitable introduction of a new but tested CEO for the bank, considering the volume growth of 267%.
Further tracking and technical analysis should shed more light on the stock performance since the GMD went on leave in an organisation considered by most analysts and investors to be the best organisation with the most credible corporate governance structure in Nigeria and not just in the banking sector.
We intend to provide an analyst report regarding investors' sentiments and confidence towards the new incoming CEO or any likely changes in the management structure.
Find the below a table that puts the developments in perspective: