Investors of City Developments Limited (CDL) can be forgiven for punching the wall. From a high of $13.50 in March 2018, CDL share price collapsed to the current dismal level of $8.23. Out of nowhere, CDL share price suffered a devastating train wreck, causing many investors to lose their pants. What has gone wrong with this leading light of SGX?
As one of the biggest real estate developers in Singapore, CDL share price has withstood the test of time and has weathered numerous property cycles through the decades. This time, I am absolutely convinced it will be no different. With market capitalization of $7.6 billion, CDL is certainly one of the largest components among the prestigious Straits Times Index (STI). This means that CDL share price is extremely prone to fluctuations because short-sellers are likely to target the shares when Singapore property outlook turns sour. The 5-year beta of 1.125 vindicates CDL share price volatility. Of course, you can make money out of this stock but in my opinion, CDL share price remains an enigma to me.
If you look back, CDL share price went on a spell-binding bull run in 2017, surging from $8.30 in January 2017 to almost …
The post Can City Developments Limited CDL share price shake the blues? appeared first on SG Wealth Builder.