DITO CME Holdings Corp. (DITO), formerly ISM Communications Corporation (ISM), was originally a mining company incorporated in March 1925 under the name Itogon-Suyoc Mines, Inc. As ISM, the Company was engaged in information technology, multimedia telecommunications, and other similar industries. On March 6, 2020, the Securities and Exchange Commission (SEC) approved the change in corporate name to the present one.
DITO currently has no operating business. The Company is doing business as a holding company as it was since 2016.
On December 10, 2019, the Board of DITO approved the acquisition of Udenna Communications Media and Entertainment Holdings Corp.
As of July 2, 2020, DITO was last traded at 3.44php per share. Its market price is 51.4% lower from its 52 week high. Is this fundamentally cheap and technically time to buy?
Trailing P/E is negative because of the loss in income last 2019 and even in 2018. Investors buying stock in a company with a negative P/E should be aware that they are buying shares of an unprofitable company and be mindful of the associated risks.
Technically, the MACD histogram is indicating a decline in momentum, thus we might see a continuation in profit taking, the same goes with RSI indicator.
Disclaimer: Trade or invest at your own risk.
No comments:
Post a Comment