tumbled after trade resumed Tuesday on news that controlling shareholder Lembaga Tabung Angkatan Tentera (LTAT) has aborted a plan to buy out minority shareholders and take the company private.
The decision came eight months after LTAT, which owns a 59.4% stake in Boustead, announced that it was planning to delist the company.
Boustead group managing director Datuk Seri Mohammed Shazalli Ramly said both parties have decided to focus on Boustead’s strategies to rejuvenate the group. It has stakes in several listed entities. It has controlling interest in 65% owned Boustead Heavy Industries Corp and 56% in Covid-19 vaccine-maker Pharmaniaga Bhd
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Factory output drops
GameStop's shares and others favoured recently by retail investors fell further on Thursday, while U.S. Treasury Secretary Janet Yellen vowed to protect investors, but also said financial market regulators needed to fully understand the recent trading frenzy before taking any action.
The events under review erupted when a group of small-time investors on online forum Reddit joined forces to try to thwart hedge funds that made massive bets that the shares would fall.
Why Retirement Savers Should Ignore the Robinhood Hubbub
Long-term investors with diversified nest eggs have little to fear from the GameStop saga
by John Waggoner, AARP, February 4, 2021 |
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En español | A group of small investors who frequented an internet chat board produced mammoth gains in GameStop stock in recent days, while saddling big Wall Street players with elephantine losses. In the fallout, the popular stock-trading app Robinhood and several hedge funds are reeling, even as some of the GameStop investors have moved on to other targets most recently, the market for silver.
Is this something that should concern retirement savers? Probably not. If you re investing for retirement, you should be looking at the long term, not next Friday, for your gains. You also shouldn t be cavorting with individual stocks, especially those of small, shaky companies. Stick with well-diversified, low-cost mutual funds, which don t pull the
U.S. Treasury Secretary Janet Yellen on Thursday vowed to protect investors, but said financial market regulators needed to fully understand the recent trading frenzy involving GameStop Corp and other retail stocks before taking any action.