Shares & Derivatives
Should you buy iFast after its 60% plunge?
By Beansprout  •  July 26, 2022
What happened? If you have been following fintech stocks globally, you would have noticed the sharp fall in their share prices in recent months. Closer to home, the share price of iFast has fallen sharply by more than 60% from its 52-week high of above $10. The stock took a further beating after it reported a surprise loss in its 2Q22 results, bringing the share price down by another 5% on 25 July. This marks a sharp reversal from 2021, where it was one of the best performing stock on the Singapore exchange. Let’s take a look at what is driving the most recent correction. <img src="" alt="Chart, line chart Description automatically generated"> Source: Google Finance What we learnt from iFast 1H22 results #1 – 2Q22 losses largely due to one-off impairment iFast reported a loss of S$2.7 million in 2Q22, reversing from a net profit of S$7 million...
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.

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