valuations of the glove makers are very high ard 30X PE as the Covid virus situation has ramped up demand for gloves. Riverstone is trading ard 14X and the CEO has been buying stock every day. Riverstone has a steady CEO with a high stake in the company, so he is aligned with minority shareholders.
Excellent stock run and there is more upside beyond $2.00. I think the next few quarters will see the higher ASPs kick in. The commissioning of new production lines will be happening also. Another parallel stock run may take place with Medtecs International. 18.5 cents closed today.
The supplier of PPE is valued at only about 5X PE for this year's assumed earnings. DYODD.
Riverstone turned out to be a great call. Hit $1.89 today.
Will Medtecs be the next Riverstone? At potential PE of 5 FY20 earnings, Medtecs can double from here? 40 cents?
Riverstone has just crossed $2 for the first time in its history. With a market cap of S$1.5 million (US$1 mln), Riverstone has become investible to (bigger) institutional investors.
PE now about 18X based on CIMB profit forecast for 2020.
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