Investors 'cautious' in trading PLDT stocks; seek more details on 'overrun' issue | ABS-CBN
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Investors 'cautious' in trading PLDT stocks; seek more details on 'overrun' issue
Investors 'cautious' in trading PLDT stocks; seek more details on 'overrun' issue
ABS-CBN News
Published Dec 20, 2022 11:05 AM PHT
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Updated Dec 20, 2022 02:09 PM PHT
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MANILA - Investors are seen to be cautious in trading stocks of PLDT Inc after it reported a P48 billion "budget overrun" from 2019 to 2022, AAA Equities President Matthew Cabangon said on Tuesday.
MANILA - Investors are seen to be cautious in trading stocks of PLDT Inc after it reported a P48 billion "budget overrun" from 2019 to 2022, AAA Equities President Matthew Cabangon said on Tuesday.
PLDT shares dropped by nearly 20 percent on Monday, the steepest since September 1998.
PLDT shares dropped by nearly 20 percent on Monday, the steepest since September 1998.
"Investors still have a lot of questions on what exactly that [overrun] means. Does that mean they overbuild last year? Or could this have been a P48 billion honest mistake? I don’t know. We don’t know a lot of details yet," Cabangon said.
"Investors still have a lot of questions on what exactly that [overrun] means. Does that mean they overbuild last year? Or could this have been a P48 billion honest mistake? I don’t know. We don’t know a lot of details yet," Cabangon said.
"I think investors, in trading this stock, would be very cautious. I don’t see it stabilizing until we see a definitive resolution to this issue," he added.
"I think investors, in trading this stock, would be very cautious. I don’t see it stabilizing until we see a definitive resolution to this issue," he added.
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The Securities and Exchange Commission earlier said it is closely monitoring the issue and that it had launched an independent inquiry in relation to the trading of PLDT shares.
The Securities and Exchange Commission earlier said it is closely monitoring the issue and that it had launched an independent inquiry in relation to the trading of PLDT shares.
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