CITH - What happned today?

maduk · 1 CITH - What happned today? Tue Oct 22, 2024 6:13 pm

maduk

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Over 63 million shares were traded today, with more than 50 million sold at 3.5 Rupees. This is the lowest price ever recorded for CITH. Not too long ago, they converted rights at 3.5 Rupees. I’m struggling to figure out how much of CITH is actually owned by the public. According to their annual report from September, CITRUS LEISURE PLC holds 236,058,408 shares, which accounts for 82.857% of the issued shares. Is that right? The directors didn’t hold much. If that’s correct, the public doesn’t even have 63 million shares available for trading. So, who sold such huge chunks today?

Biggy · 2 Re: CITH - What happned today? Wed Oct 23, 2024 4:32 pm

Biggy

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Why are people needlessly investing in absolute JUNK & falling in trouble ? Buy Shares with low PE , low or no debt, and potentially high future earnings and healthy cash flows & track record .

maduk · 3 Re: CITH - What happned today? Wed Oct 23, 2024 10:56 pm

maduk

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I get where you're coming from, buddy. But when it comes to stock trading, there's always some risk, and you've got to look for opportunities. Given the current financial situation in Sri Lanka, aiming for a 10%-20% return in the short term (like 2-3 months) is actually a good move. When you're trading, things like future or curent debt don’t really matter as much

Biggy · 4 Re: CITH - What happned today? Thu Oct 24, 2024 8:19 am

Biggy

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I thought maybe you were in trouble after reading your post but it seems like you've aced the Art of trading even junk and enjoying large profits

maduk · 5 Re: CITH - What happned today? Thu Oct 24, 2024 1:53 pm

maduk

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Biggy wrote:I thought maybe you were in trouble after reading your post but it seems like you've aced the Art of trading even junk and enjoying large profits

Haha, you’re so right! Not aiming for anything huge, just something decent like 5%-10% in the next 1-2 months Cool

sureshot · 6 Re: CITH - What happned today? Thu Oct 24, 2024 8:44 pm

sureshot

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Hope this share will come below 2/50 in a market correction day.

Company have dumped all their right issue shares to the poor retailers now.

Avoid buying this "ROTTI Group" Shares. CITH - What happned today? 1f601

maduk · 7 Re: CITH - What happned today? Fri Oct 25, 2024 2:21 am

maduk

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Honestly, I can't say for sure how things are going to play out, but this feels like directors are making moves. I'm pretty sure the share will bounce back to normal once they're done. What I don't get is why the annual statement doesn't show these share allocations to the directors!