The gaming industry last week aced out other listed companies in the Philippine Stock Market after they posted double digits return in just a matter of 5 days and taking four positions out of the first five (5) top gainers. The following provides a summary of the winner stocks for the past week. Percent changes are computed based on the difference of stock prices between June 13 and June 17. Is it now the time for the gaming companies to shine after being bearish last year? Let’s have a look.
Melco Crown Philippines Resorts Corp (MCP)
MCP topped the list with a gain of 19.76 percent. But most of it occurred on Friday alone after it closed at P2.97 resulting in 14.23 percent increase of its stock price. As far as I remember, there is no disclosure last week that is significant enough to increase its valuation. However, take note that at the moment, it is trading at -63.87 percent lower than its 52-week high of P8.22 in July 2015. Will this be a start of the bounce or is this just a temporary hype? The answer will be revealed by the market in the next few days.
Premium Leisure Corp (PLC)
Second on the list is another gaming company called Premium Leisure Corporation (PLC) with a gain of 15.00 percent. This also suffered a major decline in 2015, however unlike Melco Crown (MCP), it has already started recovering earlier this year. If you’re going to look at its chart, you will notice that it underwent a consolidation period for the past few months. Will it finally break out this time?
Cyber Bay Corp (CYBR)
While the spotlight is on the gaming industry, there’s one outlier which comes from the real estate. Cyber Bay (BYBR) ended the week with 13.21 percent gain. I think it’s worth mentioning that this is a penny stock so be careful if you are considering buying some shares of it. This is volatile and seems to be a playing ground of high risk traders. So newbies, beware!
Bloomberry Resorts Corp (BLOOM)
Do you remember an article I posted months back? In that post I talked about my biggest investing mistake. You wanna guess what company stock was that? BLOOM! So do you imagine how joyful I am to have it included in the top five (5) gainers. I am such a happy kid. I have been waiting for this moment for quite some time. In fact, I already sold a portion of my total shares with a double-digit gain. So in case this stock loses its momentum and starts declining again this week, at least I have already locked-in some profit.
I will be posting an article on the strategies I have employed to overcome the mistake I had with BLOOM. If you don’t wanna miss it, subscribe to my newsletter for free.
Berjaya Philippines Inc (BCOR)
Last but not the least is Berjaya, another gaming company which posted a gain of 10.53 percent. Upon checking the chart, I found out that the stock price has been playing between P20 and P30 for the past 5 years! You may say it’s a bit boring. Will the spike of the price last week finally break its long time stagnancy?
The gaming stocks showed a come-back last week. I wonder if this is a sign that something good is happening or is about to happen in the gaming industry. Let’s keep an eye on how the market will react on it this week.
While we can analyse the past performance of certain stocks, nobody can actually predict their future behaviour and movement. Hence, this post is not a recommendation to buy or sell securities of the above-mentioned companies.