Friday, January 15, 2021

FIRST REIT: Buy & Sold 83,200 shares within 3 days (Part 3)


Bought 83,200 shares of FIRST REIT on 13 Jan at $0.24

Sold 83,200 shares of FIRST REIT on 15 Jan at $0.255

Average price per share dropped from $1 -> $0.64 -> $0.58 (Remain same capital cost $48,000 amount). 

First Reit released their Full Year result yesterday 14 Jan.

Result is within expectation, nothing surprising if you have been following their announcement update since 2020.

Why I sell it today?

The uncertainly outcome of the EGM on 19 Jan.

If EGM got the Green light, high chance I will be able to buy at near 20 cents from open market.

If EGM got rejected, high chance the share price will drop further.

Given the risk reward ratio, safer to stay on the sideline and wait for the EGM result.

For existing shareholders who intending to keep this stock in cold storage [due to massive loss :( ], you might want consider selling at least 60% of your holdings on Mon (last chance) before the EGM to lower your risk.

If EGM got the green light, at least you have the capital to subscribe to rights (including excess).

If EGM got rejected, at least your lost amount is lower (assuming share price will drop further).

Objective for doing so if you want to lower your average share price like what I am doing.

If you are lost on this post, read this and this first.

Related post:

1) SIAS - First REIT Virtual Dialogue Session key highlight

2) Increased my FIRST REIT from 48,000 shares to 75,300 shares 

3) FIRST REIT: 75,300 -> 0 shares (Part 2)

4) First REIT AGM 2020

5) Added: FIRST REIT (Jan 2020)

6) Added: FIRST REIT (Jan 2020) again

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