Company Background:
Cityneon is a leading service provider of creative solutions in the area of Interior Architecture, Events, Exhibitions and all manner of Experiential Environment to global multi-national conglomerates, brands, businesses and government agencies throughout Asia and the Middle East.
For company background, see company website:
http://cityneon.net/
Cityneon's share price has been on a sharp rise since 23 March 2016, prompting a SGX query on 16 April 2016. A signficant positive development for the company is the launch of its Avengers S.T.A.T.I.O.N in Paris, Avengers STATION and Transformers Experience in Las Vegas as well as Transformers Experience in China.
Paris Press Release
Las Vegas Press Release
China Press Release
Cityneon's share price has doubled in a short space of a month from 23 March to 21 April 2016! Historical PE now stands at about 148 times although various Research Houses expect this PE to drop substantially to teen levels by 2017 as a result of these positive developments above.
Market Action:
I normally do not sell a rising stock. In fact my stop loss has been raised to 54 cents and this has not been broken. However, I am making an expection in this case and taking profit as the gains are just too attractive to ignore.
So, I am out of the stock as of today:
- 30 March 2016 - Bought Cityneon at 38 cents
- 19 April 2016 - Sold Cityneon at 59 cents
- -----> Profit - 55% ($ XX,000)!
I sleep well tonight with a nice profit locked in. Thank you, Cityneon.
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