Metronic-Where is thy Sting?

Just when you thought that it is about time this counter moved in tandem with the overall market performance, it falters. Pre ex-bonus saw buying for at least 10 days in quite substantial volume. It touched a high of 44 sen and ended on Friday at 41.5 sen.

Since they could not boost up the price pre-ex bonus, many thought that today is the day where they can at least lock in the value of the shares that they have so loyally kept for the last few years, keeping the new bonus shares. But it was not to be.

From the opening bell, Metronic was done at 23 sen and then it fell to 21 sen. There was little buying for it but many sellers. I do hope the sellers know what they are doing since the buyers are just bargain hunters hoping to buy at a cheaper price with each passing our.

Right now, it is perched at the 22.5 sen price level for a 0.5 sen gain.Will the big boys come in later to move up Metronic once the so-called weak holders have surrendered all 13 lots (mother and bonus shares) for a song?

What happened to the placement which was priced at RM0.42 sen which are allowed to be traded now? Locked up? If that is so, Metronic will see even better days ahead of this ex-bonus issue day. Let us pray that this will come true.

Heartsong