Uni-Asia Finance Corp’s share price has flown into the stratosphere in the last couple of weeks. I previously did some research on the stock in early September. Since then, from trading around $0.60 it has soared to nearly $2 in about two weeks.What in the world is going on?
The company’s recent HY07 results reveal a 91% jump in net profit. There has been a significant year-on-year jump in both investment income and fee income. However, the Management Discussion & Analysis reveals that a large portion of the increase in income was due to the one-time launch of the Akebono Fund and the one-time disposal of three vessels. In other words, the market seems to be treating the one-time profits as recurring.
The images below, extracted from the latest HY report, illustrate. (Click for full image)
Income Statement
Fee Income
Investment Income
Well, well. As for me I'm unable to see the value the market is currently placing on the stock. However, the last couple of weeks certainly look like an exciting ride for the stock price.
For all you know, it might go even higher. To $3, $4, maybe even $10!
Investment Income
Well, well. As for me I'm unable to see the value the market is currently placing on the stock. However, the last couple of weeks certainly look like an exciting ride for the stock price.
For all you know, it might go even higher. To $3, $4, maybe even $10!
Up, up and away......!!!
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