DITO Telecom's Shares Surge Amid Telco Sector Optimism

 Veteran author Faye Almazan wrote on her latest article posted on The Manila Times that optimism toward the telecommunication sector boosted the shares of DITO CME Holdings Corporation. 

Based on market reports the shares of the listed holding company of the country's third telecommunications player, DITO Telecommunity, climbed 46 centavos to P5.76 apiece on Friday. 

In turn DITO CME Holdings ended the previous trading week as the most active stock and landed itself among the top gainers in the volatile stock market in the country. 

According to Philstocks Financial Inc. senior research analyst Japhet Tantiangco, DITO's shares were actively traded last week, which could be attributed to the optimism towards the telecommunication sector. 

In an interview with the media, Tantiangco was quote as saying "One of those who can take part in the opportunities is the third telecommunications player Dito Telecommunity, whom Dito CME Holdings Corp. will have indirect interest in upon regulatory approval and execution of transfer documents," Tantiangco stated. 

Meanwhile, AAA Equities head of research Christopher Mangun said that DITO's shares performed "exceptionally" the past week as it saw heavy volatility and was the most traded stock for several days. 

Mangun also note that the strength of the telecommunications sector cascaded to the stock, despite it not operating yet or beginning to earn revenues. 

He sees the firm’s shares to continue trading higher as it is in a strong uptrend and more investors are “getting on the ship.”

Both analysts from Philstocks Financial Inc., and AAA Equities agree that the telecommunication industry is well positioned for further growth as demand for data services continues to shoot up amid economic activities going online. 

Source: The Manila Times

DITO Telecom's Shares Surge Amid Telco Sector Optimism DITO Telecom's Shares Surge Amid Telco Sector Optimism Reviewed by Phil Newsome on October 11, 2020 Rating: 5
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