MEDVIEWAIR: Share Price Fails To React To News On Developments In Airline

Proshare

Thursday, October 11,  2018 / 03:59PM / Proshare Research    

 

The share price of MEDVIEWAIR has remained static in recent time. The share price is currently trading at N1.93k as at the close of trading on October 10, 2018, a price achieved on July 30th, 2018, representing twenty-one (21) trading days of no price movement.

 

Year to date, Medview’s share price has dropped by -3.02% as against -15.32% YTD loss recorded by the NSEASI which implies that the share price of Medview outperformed the NSEASI YTD.

 

That said, the analysis on the share price of Medview, in relation to its listing price reflected that it has moved up by +28.67%.

 

The current performance in share price implies that it has refused to react to recent news activities on the company laying off some staffs,and concerns about its going concerns.

 

Yet, the larger issue must be the possible insensitivity of the market to the news on account of the ownership structure of the listed entity and the control over the float.

 

This will become more apparent in the weeks to come. 

 

The public is focused on the stock and its actions/movements as an indicator of reality.

 

Proshare Nigeria Pvt. Ltd.

Source: Proshare Research

 

A cursory review of the Q2 2018 results of the company reflected that it gross revenue dropped by -58.5% from N13.01bn in Q2 2017 to N5.40bn in Q2 2018 while its Profit After Tax (PAT) also dropped by -72.8% from N857mln in Q2 2017 to N234mln in Q2 2018.

 

 

Proshare Nigeria Pvt. Ltd.

 

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