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Investors might become reluctant to put their hard-earned money into PLDT Inc. after its controversial P48-billion “budget overrun” announcement on Friday, with foreign investors already weighing in on the issue over the weekend. First Grade Finance Inc. Managing Director Astro C. del Castillo believes that investors will be risk-averse toward…
The penny stock’s surge showcases the extremes to which the retail mania has reached in the Philippines, home to one of the world’s worst-performing equity markets this year. MANILA: Abra Mining & Industrial Corp has no revenue and zero analyst coverage. Yet, the loss-making mining company’s stock has more than doubled in 2021 and is also the most-traded name in the Philippines. The penny stock’s surge showcases the extremes to which the retail mania has reached in the Philippines, home to one of the world’s worst-performing equity markets this year. Discouraged by the decline in th...