Will AEM become another legendary fairy-tale in SGX? Amid the bearish market outlook caused by the devastating COVID-19 outbreak, AEM share price defied gravity to smash a record high of $3.37 on 11 May 2020. To illustrate how powerful the rally is: AEM share price stormed from $1.37 on 19 March 2020 to a crazy high of $3.37. This means that AEM share price soared nearly 250% within the span of two months!
In life, what goes up must surely comes down. After reaching the giddy height of $3.37, AEM share price subsequently pulled back to reach the $3.10 price level. Such correction is healthy and should not be seen as beginning of the end for AEM share price. What ignited the surging bull run was largely due to the solid first quarter business results that saw the company hitting a record revenue of $146.8 million and net profit