Thank you. Have just noted that there is a huge buying queue at 17.5 cents.
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[abb 12-06-2011]:
Even if the stock market gets bad, Straco price is likely to stay resilient because of the company's trend of buybacks. The last buyback was last Friday. It bought back 248,000 shares at 17.5 cents. The business is highly cash-generating as it collects cash from visitors to its Shanghai Ocean Aquarium and other attractions.
One of the better China-based stocks, although the top management is Singaporean (which may be why the stock is 'clean'). LOL.
The price is 18.9 cents today, quite likely because of sustained share buyback by the company which is flush with cash.
The cashflow is beautiful:[url=http://www.nextinsight.net
/story-archive-mainmenu-60/912-2011/4610-insider-buying-action-asia-and-straco]Strong Insider buying: ACTION ASIA, STRACO CORP, XMH[/url]
It's not surprising to see only a few dozen lots in the queue to buy at various prices this usually illiquid stock. The amazing thing is there is 1 big gigantic block of seller with 5.02 million shares selling at 20 cents. What on earth is this about?
If I were boss, I would delist this company as the stock is illiquid and its valuation reflects the market's lack of appreciation. Just hop over to HK Exchange... closer to the China playground.
