Dear readers, much has been talked about the gradual re-opening of Singapore in the new Covid-19 normal. The gradual resumption of group size of five for dining pretty soon. The further relaxing of measures that could be considered when Singapore reaches two-third vaccination by National Day. And the longer-term of the new normal of living.
It is hence no wonder that some Singaporean investors have flocked to Singapore stocks which are touted to be Covid-19 recovery plays. And one such stock is none other than MM2 Asia Ltd stock. For the rationale seems simple. If there are more gradual easing measures, there may be more movie-goers which will benefit MM2 Asia Ltd stock.
From $0.069 on 1 Jul 21 to $0.075 just yesterday (5 Jul 21), MM2 Asia Ltd stock has gained about 8.7% upside in just a short span of two trading days. The stock went as high as $0.081 per share yesterday before closing lower at $0.075. I would speculate that the increased number of locally transmitted Covid-19 cases of six yesterday compared with just one on 4 Jul 21 may cause some speculators to take some profit given the uncertain nature of Covid-19.
Will MM2 Asia Ltd stock be the next stock to rally? Or will this be more of a speculative play?
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