What a devastating plunge! On 16 August, Nanofilm share (SGX: MZH) crashed 30% following the double bad news concerning the resignation of Chief Operating Officer (COO) and a set of financial result that fell short of analysts’ expectations. The swift meltdown of Nanofilm share price certainly raised many eyebrows as this counter just smashed $6.50 on 26 July. How will Nanofilm share price unravel in the coming weeks?
Back in March 2021, I have written an article that stated Nanofilm share price is worth $4 only. Even though Nanofilm share price has reached my target price, I will not enter this counter at the moment because I do not invest in a company that just got listed within five years. In my opinion, the current turmoil of Nanofilm share price is largely due to the recent departures of former CEO Lee Liang Huang and COO Ricky Tan....