Market Insights: Bad Start For ELITE, Stock Nears All-Time Low – Jan 8, 2021

January 10, 2021

Welcome to The MoneyMax Market Insight for this week.

The highlight for this week is Elite Diagnostics Ltd. Having suffered through 2020, not only being impacted by the pandemic but equipment challenges across the company, the stock ended 2020 down 40% (much worse than the market), closing at $3.01 (performance here).  Now, the first week of 2021 the stock has slid another 9% trading as low as $2.71. Is this a sign of what’s ahead?

Apart from the 5% increase in the stock price in September, the stock has declined every single month since July, and as the chart below shows, they also had a number of bad months before July as well.

Also read: Elite Diagnostics Ltd (ELITE) Earned Less Than 3/4 Of What It Made Last Year As The Company Struggles With Equipment Breakdown, Reduced Demand & Hours – Jun 2020 (YE) Earnings Review

The insights for the week ending Fri Jan 08, 2021 are below.

Popular This Week

Most traded stocks this week – ranked based on number of trades.

Company Rank Movement Close Vol
Derrimon Trading Company Ltd 1 Declined 2.35 8.7m
Wigton Windfarm Ltd 2 Declined 0.75 5.4m
Transjamaican Highway Ltd JMD 3 Advanced 1.35 15.0m
GraceKennedy Ltd 4 Advanced 65.36 189.2k
Mailpac Group Ltd 5 Advanced 2.88 3.3m
The Limners and Bards Limited 6 Declined 2.68 1.3m
Fontana Limited 7 Advanced 5.70 625.8k
Jamaican Teas Ltd 8 Advanced 2.02 2.2m

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About The MoneyMax Market Insight – This is a compilation of stats and tips on the market. Each week we will highlight the best performing, trending & top ranked stocks and more – giving our members tips on what has been performing well and what to look forward to.

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