Many investors claim that the best time to buy a stock is when the price has reached bottom. After all, when one reaches the bottom of the cliff, the only way to go is upwards. In this regard, has DBS share price (SGX: D05) bottomed out or has it gotten ahead of its business fundamentals?
Being one of the leading lights of SGX, DBS share price (SGX: D05) is considered a key barometer of local stock market performance. Amid the disruptions caused by COVID-19 pandemic, many investors scrutinize DBS share price (SGX: D05) for signs of economic recovery.
For sure, 2020 had been such a horrible year for everyone with the implosion of COVID-19 pandemic. Despite the devastating economic impacts of coronavirus, it took only nine months for DBS share price (SGX: D05) to stage a U-shape recovery. By December, the stock has recovered back to the pre COVID-19 levels (the stock was trading around $25 in the latter half of 2019).