Think there will be a gap down in stock prices on Thursday. However, the price action downwards will probably be not too drastic as the stock has already crashed >50% from its high of $2.70 this year
Due to a combination of:
1) iceberg
2) share consolidation
3) now with losses
I think the share consolidation part did the most damage to the stock price already and this may lead to the losses being at least 50% factored into the stock price
That being said, the results warrant a closer look at its balance sheet & performance of its other divisions besides coal
We will probably test its historical low of S$1.12 soon but there should be strong support around there and below that for bargain hunters as Noble is already trading close to bankruptcy P/B valuations (0.3 PB)
Historical Low = $1.12
0.25 P/B = $1.03
Going forward, the only way is up once Noble finds its bottom
Due to a combination of:
1) iceberg
2) share consolidation
3) now with losses
I think the share consolidation part did the most damage to the stock price already and this may lead to the losses being at least 50% factored into the stock price
That being said, the results warrant a closer look at its balance sheet & performance of its other divisions besides coal
We will probably test its historical low of S$1.12 soon but there should be strong support around there and below that for bargain hunters as Noble is already trading close to bankruptcy P/B valuations (0.3 PB)
Historical Low = $1.12
0.25 P/B = $1.03
Going forward, the only way is up once Noble finds its bottom
