Whatever the outcome of the Teo family saga cannot be the reason for the stock's run up in the past 2 days. What really matters is the gross undervaluation of the stock. The Zhongshan Park project will hit the headlines in the 4th quarter of this year and focus investors' interest on Hiap Hoe. Before that, in the months leading up to Zhongshan Park being opened, more analysts will also talk about Hiap Hoe.
Hiap HOe has shot up $90+ million in market cap in just 1 week, or 38%.
The company is valued now at about S$310 million with stock price at 65 cents. It's sounding like a cornered stock. Will there be more upside? Fundamentally, HH is worth a lot more than 65 cents, imho, but at the moment there is too much profit to tempt investors to sell off. The next few days and weeks could be turbulent. I'd rather look at other second-liner prop stocks.
The profit-taking is evident & as I expected. Hiap Hoe down 4 cents currently.
Good to have some of the short-term traders exit. Leave the game for the long-term patient investors. 64 cents now, still vulnerable to profit-taking. A lower price would be nice for accumulators and new entrants.