Biotreat – The Roller Coaster Ride
Still holding quite a number of Biotreat, suppose to be a replacement of Hyflux for me, but it gives more supprise to me, fortunately my heart is not that week, I really don’t know what to do with this stock, should hold or just sell it for some profit.
Been with it after the correction to 0.95 from 1.03 around early September. Smart enough to collect it at the bottom of the correction (0.95), but stupid enough to bought the first batch at the highest point before the correction (1.03). It raises quickly after that to a high of 1.07 and I thought it is testing against the resistance at 1.08 / 1.09.
A scary day…. Biotreat’s price melt just before the market closed, lost more than 10% because of the proposed scrip dividend. It down to around 0.93 and subsequently down to 0.80 a few days afterwards. Last year this counter was punished heavily by the big boys also because of the proposed “employee share option scheme”. Today the company announced cancellation of options issued and the counter also gain 0.035 the day before Christmas eve, hope this can get back some investors’ connfidence.
