Here's hoping Sino Grandness stays fresh - Portfolio Update
Here's hoping Sino Grandness stays fresh. Garden Fresh.
Sorry for the bad puns.
I apologize because I haven't had a chance to update this blog - this week has been rather rough for me. I did manage to watch the market for a bit, however. Allow me to bring your attention back to Sino Grandness, the loquat juice producer that I covered some time ago in another article.
To make this short and sweet - I picked up more shares for the same reasons I listed in my last article:
1) Sino Grandness has come to an agreement with their convertible bondholders
2) Subsidiary Garden Fresh is applying to list on the Hong Kong Stock Exchange (HKSE)
I would've bought more the last time if I could, but I had some other obligations to take care of, and my finances were tied up. I would like to take this time to say to my fellow young investors and traders - please manage your risk appetites, and don't play with what you don't have unless you really know what you're doing. I've had friends who went into debt borrowing money to pump into a stock, convinced that the price would spike up, only for the price to drop, pushing them further into debt.
I bit the bullet and decided to pick up more shares at 0.645. That may be a little high, but I'm pretty happy with how the price has moved so far - there is now a small buffer between my average price and the current market price. Sino closed at 0.715 on Friday evening.
Just yesterday, Sino Grandness announced on their website that Garden Fresh has submitted an application to the HKSE. I will be watching to see how things develop, and I hope the application goes through without any hitches.
Creed
Sorry for the bad puns.
I apologize because I haven't had a chance to update this blog - this week has been rather rough for me. I did manage to watch the market for a bit, however. Allow me to bring your attention back to Sino Grandness, the loquat juice producer that I covered some time ago in another article.
To make this short and sweet - I picked up more shares for the same reasons I listed in my last article:
1) Sino Grandness has come to an agreement with their convertible bondholders
2) Subsidiary Garden Fresh is applying to list on the Hong Kong Stock Exchange (HKSE)
I would've bought more the last time if I could, but I had some other obligations to take care of, and my finances were tied up. I would like to take this time to say to my fellow young investors and traders - please manage your risk appetites, and don't play with what you don't have unless you really know what you're doing. I've had friends who went into debt borrowing money to pump into a stock, convinced that the price would spike up, only for the price to drop, pushing them further into debt.
I bit the bullet and decided to pick up more shares at 0.645. That may be a little high, but I'm pretty happy with how the price has moved so far - there is now a small buffer between my average price and the current market price. Sino closed at 0.715 on Friday evening.
Just yesterday, Sino Grandness announced on their website that Garden Fresh has submitted an application to the HKSE. I will be watching to see how things develop, and I hope the application goes through without any hitches.
Garden Fresh has submitted an application to be listed on the HKSE as of 31 Mar 2016.
If no other obstacles arise, I anticipate that the listing should be completed by end-May.
*Update - After reading the Application Proof listed on the HKSE site, expected date of listing is 6 July.
*Update - After reading the Application Proof listed on the HKSE site, expected date of listing is 6 July.
The price has undergone a 100% increase since January this year. I expect more upside, my short-term target is 0.90. All the best to Garden Fresh, and to all my readers who also bought into Sino Grandness.
Current Holdings:
Name
|
Shares
|
Price
|
|
1.
|
SPH
|
2,000
|
3.58
|
2.
|
Singtel
|
1,000
|
3.49
|
3.
|
ST Engineering
|
1,000
|
3.03
|
4.
|
Sino Grandness
|
7,200
|
0.55
|
5.
|
Sino Grandness
|
15,800
|
0.645
|
Thanks for reading, guys.
Until next time.
Creed
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