Sunningdale has plunged 46% in less than half a year, from an intraday high of $2.40 on 6 Nov 2017 to close $1.30 on 30 Apr 2018. What happened? Is Sunningdale a “goner”?
Some reasons for Sunningdale’s decline
Sunningdale’s share price decline may be attributed to some of the reasons below:
a) Sentiment on tech sector has soured
Sentiment has soured on the tech sector primarily due to downbeat results or / and guidance from tech companies such as Taiwan Semiconductor Manufacturing Co. Ltd, SK Hynix. Secondly, there are rising fears of increasing regulation measures on the tech sector. Both factors have cast a pallor over tech companies. For example, Venture, Hi-P, Valuetronics have also seen selling pressure in their share prices, especially in April.
b) Sunningdale’s 1QFY18 results missed analysts’ estimates (See elaboration below)
c) General market weakness
Stocks which beat analysts’ expectations have mostly seen …