Just 3 days ago, we discussed about Best World , suggesting that it was starting to show signs of the final blowout of the distribution process and the advice was to sell into this strength.
https://finchartsniper.blogspot.com/2019/02/bestworld-toppish-looks-like-game-over.html
True to form, today, BestWorld shares plunged from $3.25 yesterday to $2.71 today before it was halted . What happened ? See below Biz times article
This fall was apparently was attributed to an article in Business Times today giving a damning indictment of BestWorld sales revenue in China where BT did some channel checks and found BestWorld has a very insignificant presence in China despite BestWorld management claims to the contrary.
https://www.businesstimes.com.sg/companies-markets/sales-of-drs-secret-in-china-best-worlds-best-kept-secret
I strongly advise not to touch this stock with a ten foot pole even as the price plunges some more to hit some attractive demand zone as i believe it would , as I believe further down the line, more channel checks by other interested due diligence parties may unearth a bigger can of worms.
https://finchartsniper.blogspot.com/2019/02/bestworld-toppish-looks-like-game-over.html
True to form, today, BestWorld shares plunged from $3.25 yesterday to $2.71 today before it was halted . What happened ? See below Biz times article
This fall was apparently was attributed to an article in Business Times today giving a damning indictment of BestWorld sales revenue in China where BT did some channel checks and found BestWorld has a very insignificant presence in China despite BestWorld management claims to the contrary.
https://www.businesstimes.com.sg/companies-markets/sales-of-drs-secret-in-china-best-worlds-best-kept-secret
I strongly advise not to touch this stock with a ten foot pole even as the price plunges some more to hit some attractive demand zone as i believe it would , as I believe further down the line, more channel checks by other interested due diligence parties may unearth a bigger can of worms.
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