Tuesday, May 21, 2019

Added: MM2

Bought 90,000 shares of MM2 on 21 May at $0.24 - $0.245.

Reasons for buying MM2:
1) 52w low $0.24
I believe Mr Market had over punished MM2 causing it to drop 50% from 52w high $0.50 to current price of $0.24.

2) US Fed will maintain or lower interest rate % in 2019
Buying of Cathay Cineplex cause MM2 to overleverage. Thus, the interest rate payable pull down the profit amount. With US Fed hint that they will maintain or lower interest rate in 2019, this let MM2 have a bit of breather on their interest rate payment.

3) Gross Profit

4) Target $200,000 portfolio by end of 2019
As mentioned in one of my April post (Link), I want to hit the target of $200,000 for my portfolio. As such, will keep a lookout for those capital gain stock and MM2 is one such stock which I am eyeing on.

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