Prime Stock Update: This API maker moves from ‘Book Profit’ to ‘Sell’
Why we are moving this API stock from 'Book Profit' to 'Sell'.
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2 thoughts on “Prime Stock Update: This API maker moves from ‘Book Profit’ to ‘Sell’”
Was the timing correct of sell call ? Just after selling, it’s increasing daily and now the news of buyback. Significant profit lost out.
Hello Sir,
Thanks for the query. The rationale for the ‘sell’ was based on fundamentals. Earnings did not grow as expected. A buyback is not something we will know about until it is announced. Given the challenges to earnings, a buyback-influenced stock price spike is not something we can consider in these calls. This may boost stock prices but ultimately the company needs to deliver on the earnings front.
Thanks.
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