Double Jeopardy

Well, what do you know?

Just when you think it is time to leave dullards on the Bursa like GenM when it springs back to life and climbed to high heaven.

I have been holding onto this stock for about 7 years now and this could possibly be the second time that it has scaled the RM3 mark.

Strangely, with a reserve bleeding proposal in the works comes this EGM to buy GentingUK, yet some people have seen it fit to push GenM up.

I could see the relevance of Genting Berhad moving up but never in my mind could I fathom that GenM could also be pushed up.

I regret selling at RM2.86 it to buy some other stocks which has slided down since. It has climbed as high as RM3.11 and they are still in frenzy feeding mode right now.

True Murphy's Law in operation.

For me, it was double jeopardy and a big loss.

PS:

Well, the news is out. It was a Treasury buy-in by GenM itself that pushed up the share price. They started buying big from RM2.99 onwards. I guess they wanted more shareholders out of the market before they meet on 24 August to screamed the house down on GenM management's 'senseless' purchase of Genting UK.

RHB Securities report parred down the potential of the racino project as well saying that the fair price of GenM is only RM3.03.