After yesterday’s profit-taking, YuuZoo regained some lost ground in the Singapore stock market with another day of strong buying when around 14 million shares changed hands. The stock gained 2.5 cents to close at 0.535 cents.
It was a day when oil-related stocks took a battering after OPEC decided on status-quo to retain current production levels without any cut to deal with the glut.
SIA Shines: Airlines and transport-related stocks benefited, with SIA getting a 0.27-cent jump to $10.80. Cheaper oil can add to their bottomline, depending on what kind of purchase arrangements they have with suppliers.
Hopefully, they will pass on the benefit to travellers.
YuuZoo’s Educational Exercise: YuuZoo meanwhile followed up on my earlier post on insider trading, asking me if I had any evidence to back up my opinion.
But then it was just my individual opinion based on my reading of the trading pattern during the week.
Aru Adil Sayed, Head of Corporate Communications, clarified in a telephonic conversation that an enormous amount of educational effort had been put in by the company to build the YuuZoo brand.
The exercise targeted not just institutions, the analyst community and the media but also a wide spectrum of investors, including reaching out to the grassroots, to explain its unique business model.
All of these activities, he said, had helped build investor confidence in the company and could have led to active SGX trading. A single deal alone could not have generated the level of interest seen in the brand, he argued, pointing out that YuuZoo strictly followed all rules without condoning insider trading.
G Joslin Vethakumar