Does anyone know why the big jump in the last week?
I realize that they had a good earnings surprise, but that was a while ago, and (surprisingly) it barely budged the stock.
I wonder if something bigger is going on... Perhaps some big PC maker buying out CREAF? Or some big new orders? Maybe the big mutual funds have decided to jump back into the game?
I sold a portion of my stake this morning, but I plan to hold some and see where this goes. I think CREAF is a great company, but it is losing its value appeal as the price skyrockets... Will need dig out my old annual reports soon :-)
<Does anyone know why the big jump in the last week?>
1. Creative Technology Ltd Maintained `Sell' at ING Barings Creative Technology Limited (CREAF SP) was maintained ``sell'' by analyst Lim Tee Wee at ING Barings Singapore.
2. Creative +89% The largest computer soundcard maker rallied Technology Ltd. after it posted fiscal second-quarter profit (CREAF SP and sales that were better than expected. , S$27.90) New products are also expected to boost earnings. The stock gained on optimism the company will win more orders from Compaq Computer Corp. after the U.S. company said 2002 sales and profit will exceed analysts' forecasts. Speculation Hewlett-Packard Co. will install a newer Creative-made soundcard into its personal computers, also sent the stock higher.
1656 [Dow Jones] SINGAPORE: Creative Technology (Singapore: CREA.SI - news) (C76) trashes S$26.99 resistance based on Fibonacci retracement; now up 13.9% at S$27.80; next resistance S$30, based on technical gap. Shares have risen 36% this week on high hopes new product Extigy will boost Creative's revenues; investors ignoring Creative's note of caution that too early to say what response to Extigy is since product only launched in Japan and Singapore this week.(MDW)
It's looks like it's going to rally hard again in Singapore. Stop losses will need to be raised again tomorrow. :)