I'm so sad and sorry, but this is just out of our control. MEGB (Masterskill) share price has been falling sharply for 3 consecutive days from RM2.50, 14% write off so far. Today is the worst day where it closed at RM2.15. With today closing price, MEGB PER is coming back again to 6.
There is no change on MEGB fundamental and PTPTN resolution is found. In addition, the group also just obtained additional premises of Kota Bharu campus approval from MHEM. Why MEGB share price not goes up but slips?
We need to really thanks to FMR LLC, a foreign fund house, which started to sell MEGB shares again since 4th Jan. Yes, they started to sell their shares again! Their previous action of selling 1% (4.3 millions) of their shares in hand has caused MEGB share price plunging for almost 50% within a few months.
And now they started to sell their remaining shares again. Within 4 trading days, they managed to clear 5.5 millions of shares. They are down to 7.26% (29.7 millions) shares on last Friday. They managed to sell more in such a short time because MEGB volume has improved a lot and investors are regain confident about it recently.
FMR LLC is just too frightening me, because they don't really care about the share price and MEGB future prospect. When this news is out, I'm quite worry about it. I thought over it the whole night, re-scrutinized the fundamental and details of the company, nothing is wrong. So I decided to monitor it on tomorrow morning for a while.
The next day morning, the share price stood firm and RM2.44 and RM2.45 for the first hour, I've relieved and off the screen. When I take a look after back from work, the share price has slumped 4%. I started to worry again the entire night.
Even the fundamental is still intact, but FMR LCC is just not the shareholders that I want to be with. If they continue to sell the remaining 8% shares, MEGB share price will definitely go down if no big player takes over them. As a result, I've decided to clear my MEGB the next early morning, reluctantly.
And today, it slumps again for another 8%. I don't know whether my decision is right, but I just want to protect my capital and profit from vapor. I've cleared all my MEGB portion, with 10% gross profit without any dividend. Yes, it's far away from my profit target. What a battle failure!
We don't know how MEGB will be in a short term, but I will definitely support it again right after FMR LLC has finished it's shit. Now my portfolio has 1 down, replacement required, shit!
Between, MUDAJYA finally comes back on track, thanks to the construction theme help. It has hit my profit target. Nonetheless, I won't take profit for the time being, because just like PCHEM, it should continue to go up.
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