Seplat, Academy Press and Fidson are stocks to watch this week
Seplat, Academy Press, and Fidson are some of the stocks investors need to watch out for this week, as the capital market resumes its five days of trading after last week’s outing of three.
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Academy Press is on a bullish run in the stock market, as investors’ demand for the company’s stock makes it one of the best gainers last week. This grew shareholders’ investment by 16.9% after three days of trading, as the capital market closed for two days to celebrate the Eid-El-Kabir festive.
The company had started the week’s trading with N1.89kobo per share on Wednesday, but following an uptick in demand, Academy’s stock value rose to N2.21kobo at the end of business hours on Friday. While the bullish run has lifted shareholders’ investment, it has also put their investment at risk of profit-taking.
Shareholders lost -21.5% of their investment in Fidson last week, after investors engaged in a massive sell-off that saw the pharmaceutical company’s stock shed N2.59kobo to sell at a value of N9.41kobo at the end of the week.
Fidson share had started the week with N12, however, with shareholders projecting a fall in the stock’s value, they exited their positions in the firm, to reduce their risk exposure, and this dragged the share’s value down. It’s not certain if the selloff will spill into this week, however, with Fidson opening trading this week at the losers spot, investors need to trade with caution.
The oil and gas company suffered a setback in its quest to acquire ExxonMobil’s shallow water asset in Nigeria, Mobil Producing Nigeria Unlimited (MPNU), after the Nigerian National Petroleum Company (NNPC) Limited filed a lawsuit to prevent the deal from happening.
Seplat had offered $1.2 billion to acquire MPNU in order to grow its revenue, which will most likely positively impact dividends paid to shareholders, but with the deal having the potential of failing, it could persuade shareholders to offload their shares in response to the disappointment of their investment not growing in value in the near future if the deal doesn’t hold.
This makes Seplat one of the stocks to watch, so investors need to trade with caution.
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