Buy @ $3.63
Buy back, consider as a successful "short"… IDA very free, disturbed TELCO Price Recovery by announcing they'll lower the Price Barrier for a 4th TELCO by lowering the minimum bid price to $35Mil and Spectrum Rights to Commence on Apr '17….
Interesting day for TELCOs as,
- M1 : Closed @ $2.60, +6ct ; Range $2.54 – $2.64 ; Open $2.55
- Singtel : Closed @ $3.64, -8ct ; Range $3.60 – $3.71 ; Open $3.70
- Starhub : Closed @ $3.40, -6ct ; Range $3.38 – $3.44 ; Open $3.43
Perhaps the Report by Nomura dated 22-Feb (News link to TheEdge posted by David in whatapps) helped… Nomura Upgraded M1 to "BUY" and Target Price Raised from $2.95 to $3.30…. 😀