Capitamall Up by 87.5% in one day?
You gotta be kidding me. I was shocked when i looked at the component stocks of STI at the end of the day.
CapitaMall shot up by87.5%, up $1.4, bringing up the index increase from 1% to 3%. What exactly happened?
Here is how it looks on a TA chart. Completely destroys it! ha ;p
Indeed we were seeing whether it will break the medium term resistance but man, it flew past the long term resistance too! It’s a rare chance to see a chart like that.
Upon investigation, it is noted that the the transaction was locked in for 2 million shares at $3. It is posited that the buyer keyed in his code wrongly, mistakening Capitaland with CapitaMall. 2 million of his 4.6 million went through.
If the above is the case, we would see a likely annulment of the trade tommorrow and the stock would drop by 40% and STI would logically drop by 2%?
What a disaster it would be for traders who have bought STI put warrants today man?
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