Golden Agri share price to lose shine after STI exit?
On 5 December, it was announced that Golden Agri share will be booted out of the prestigious Straits Times Index (STI). Taking over its place will be Mapletree Logistics Trust. With this latest development, I fear the worst for Golden Agri share price. In my previous article, I have mentioned that I am pretty bearish on Golden Agri share price in the medium term. This latest episode vindicated my point and also marked a sorry end to Gold Agri’s journey in the STI.
StarHub and SIAEC were booted out of STI in 2018 and 2017 respectively. Since then, the share prices of the two companies had plunged to abysmal levels. On this basis, I don’t see how Golden Agri share price can fight its destiny. Included in the STI since September 2008, Golden Agri share price had been in the limelight for the past decade and this counter enjoys much liquidity. The average three-month trading volume is actually 1.1 billion!
Since 2014, Golden Agri share price had plunged from $0.44 to the current $0.22, representing a massive decline of 50%. The huge fall of Golden Agri share price had caused much wealth destruction for shareholders. Thus, understandably, many shareholders must …
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