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Calata Corp. was the largest distributor of agricultural supplies in this country...
Is it possible that this company is involved in Napoles PDAF anomalies, as well as Sec Alcala's questionable disbursement of agricultural funds...?
I was thinking the same. PDAF can be the only excuse.
Like the PNoy economy, Calata rose like a bubble and will eventually pop like a bubble.
You should do your research and facts next time. Backread your own article. Initial offering price was P7.50 and hit a high of almost 24.
Here is the chart since 2012.
"The first indication that my feelings of disquiet about Calata Corp. were probably not misplaced was the market behavior of Calata Corp.’s stock in the days immediately following the IPO. From an offering price of – if my memory serves – P6 per share, the Calata stock zoomed to a peak figure of just over P100 per share very shortly after the IPO before setting back to the IPO price just as shortly thereafter. I realize that the relative narrowness of the Philippine stock market makes stock manipulation an ever-present possibility, but the behavior of Calata Corp.’s stock over so short a period was a real phenomenon. Not bad for a company and a stock that many knowledgeable Filipinos had not heard of!"
Your old article below.
"The investing public services to have accepted—or, more precisely, the corps of PSE brokers appear to have persuaded the investing public to accept—Calata Corp.’s representations because the IPO was fully subscribed and the Calata shares rose in price to P23.95 per share, almost three times the IPO price of P7.50. As this divergence indicated, Calata stock experienced severe fluctuations during the period immediately following the IPO."
with elections coming up, money making schemes are in the works mostly illegal in nature.