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This is not the first time that Cap A unable to sustain above RM1. PN17 status is always the negative factor. There is no institutional investors such as KWSP involved to push up the price.
It had happened before that Cap A will not be able to sustain above RM1 for long. The PN17 status is still a negative factor and lack of institutional investors to support the shares.
There's no institutional investors, small investors are unlikely to be able to keep the price above RM1 because of too many short sellers and profit takers.
No institutional investors buy Capital A shares. The price will not move up. There are too many short term profits taker. The only way for it to go up is to exit PN 17 status first.
Genting Malaysia, In a filing with Bursa Malaysia, said the suit is nothing more than a shareholder dispute.
Let's see how the USA Judge makes the decision who will win the Court case. In the meantime, it's hard to see how GenM stock price could increase much.
Genting Malaysia Bhd (KL:GENM) said the lawsuit filed by RAV Bahamas Ltd, seeking over US$600 million (RM2.57 billion) in damages related to Resorts World Bimini's operations, will not materially impact the group's financial results or operations.
Looks like in the past several days, the price had stabilized. I saw many buyers took advantage to buy between 3.97 and 4.05.
