Last Friday, I bought a few lots of AIMS APAC (AA) Reit. The trigger for the purchase was more speculative than fundamental.
AA Reit share price has dropped 10%+ from its peak of $1.60. This peak price level was first reached on 2Aug and then again on 2Sep. I was holding the hope that it might bounce back to $1.60 soon.
Actually, the strength of AA Reit over the last few months has baffled me a lot. Up to beginning of this year, AA Reit has been trading at about $1.20 but the improved investors’ sentiment brought about by the recovering economy helped to create the rising tide and as a result, its share price rose steadily in the last 8 months until NOW.
See the graph from Yahoo Finance below.
Last Friday, Business Times has a report that titled “AA Reit in exclusive due diligence to acquire Woolworths HQ in Sydney”.