STGT Drops 6% after Days of Speculations, Analyst Remains Positive on High Gloves Demand

The share price of Sri Trang Gloves (Thailand) Public Company Limited (STGT) dropped ฿5.25/share or 6.25% to ฿78.75/share with a trading value of 2,121 million baht as of 15:14 local time in Thailand (GMT+7).

 

Phillip Securities (Thailand) stated that the decline was in line with the rubber gloves stocks in Malaysia after long speculation, pushing the share price ahead of its 2020 revenue forecast, resulting in a slow down of buying pressure.

However, Phillip asserted that STGT remained in the investment theme due to the high demand for rubber gloves, while there is a potential for STGT to pump its production even more.

In addition, Phillip stated that it is possible for other analysts to revise up STGT revenue for the year.