Public Bank Share Price

Public Bank Share Price – PETALING JAYA: Investors should increase their holdings in Public Bank Bhd (PBB), which is currently experiencing some gains following the death of its founder Tan Sri Teh Hong Piow. Shares of PBB (PBB) are currently experiencing some growth due to the death of the founder, the late Tan Sri Teh Hong Piow.

“We see this as an opportunity to accumulate weakness as the bank’s strategic focus remains unchanged and is led by a strong management team,” UOB Kay Hian (UOBKH) Research told clients in a note.

Public Bank Share Price

The research house maintained its buy call on the lender, saying valuations remain attractive with a price target of RM5.10. The research house noted in the report that since the death of its founder, the PBB share price has been slightly lower than the KL Finance index.

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The share price weakness can be attributed to a number of concerns, including a lack of management succession planning and uncertainty over the transfer of equity ownership from its late founder. “It is still difficult to predict the outcome of Teh’s current 23.4% stake worth RM19.5 billion as we do not know the disposition of his shares and the plans of the individuals who will inherit his shares.

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Ministers and senior civil officials on holiday in Putrajaya Facebook’s shares fell more than 30 percent in its first year on Wall Street as the company shifted to mobile, falling even more last year after posting big gains during that period. when Mark Zach Berg refocused the company with an eye on the “metaverse”

After setting a record high in its initial public offering, Facebook Inc. became one of the most valuable tech companies in the world in its first 10 years on Wall Street, but the first and last years were difficult. not specified

Shares of Facebook Inc. after a record initial public offering. They fell more than 30% in the first year before Wall Street rallied, making the first year look like an anomaly.

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But in the first year under the new name Meta Platforms Inc. FB’s results were even worse than Facebook’s.

On May 18, 2012, Facebook became the first company in the United States to be valued at more than US$100 billion for the first time, sparking a wave of IPOs for Silicon Valley’s then-nascent “unicorn” start-ups. However, the IPO was fraught with problems: Nasdaq botched the bidding process, leaving investors unsure whether they actually got the Facebook shares they wanted, and underwriting banks reportedly had to step in and buy the shares, causing the price above the IPO of $38.

Shares closed the first day at $38.23, up from $38, but fell more than 10% the next day and haven’t hit their IPO price again in more than a year. Despite raising $6.8 billion at a record valuation, the IPO was derided as a “face factory,” and Facebook shares fell below $20 in its first year of trading, ending the first year down more than 30 percent.

Facebook’s emerging failure stems in large part from doubts about the company’s ability to transition from products built for PCs to a new smartphone-centric era, thanks to the birth of the AAPL Apple Inc., -1.13% iPhone in 2007. Still, by the end of its first year as a public company, about a third of Facebook’s ad revenue came from mobile products, and Mark Zuckerberg’s baby had grown into one of the world’s largest and most valuable tech companies, gobbling up Instagram and WhatsApp. same time.

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The following year, Facebook’s stock price more than doubled, rising 121.3 percent, and hasn’t bounced back despite the company facing public accusations of misinformation and disinformation on its platform and many other missteps in the following years.

Until the last one. From May 18, 2021 through Tuesday, Facebook lost more than a third of its value, or 35.8%, according to Dow Jones Market Data Group. That’s even worse than the percentage performance of a public company in its first year, which is down 31.3%, and worse in terms of valuation: while Facebook was worth $104 billion at the time of its IPO, last year’s decline cost it $346.6 billion dollar market capitalization.

Like the first year, many of Facebook’s current problems involve Apple and its mobile ecosystem. Apple has changed its license to online advertising providers that can protect the data and activities of multiple users from outside entities, creating problems for Facebook and other social media. Facebook posted a record loss of more than $200 billion in market value in a single session after Chief Financial Officer David Wehner warned earlier this year that Apple’s changes could cost the company $10 billion by 2022.

The drop came after Facebook released its first quarterly earnings report, which used a new name: Meta. Zuckerberg renamed the company to focus on “Metaverse,” which he markets as a magical new online reality, but in our reality, it’s another name for an umbrella product like Roblox Corp. RBLX, -1.94% Powered by Facebook’s 2014 acquisition of virtual reality company Oculus, Metaverse is set to face a familiar foe in the space soon: Apple.

Material Weaknesses, Stock Price, And Technology

Apple is expected to unveil its long-awaited augmented reality hardware sometime this year, and the two sides are gearing up for another battle. Apple CEO Tim Cook has made privacy and security his main talking point in recent years, especially against Zuckerberg, who has not shied away from fighting the company, which has plagued him for years.

Wall Street analysts still believe in Facebook’s future. Since the 10-year IPO, 40 out of 56 analysts rate the stock a “buy,” while only one rates it a “sell.” The mid-range price target of $288.51 represents a premium of 48.7% to the current price.

In more than 10 years as a public company, Facebook shares have risen more than 415% from their IPO price of $38, while the S&P 500 SPX, -0.25% has gained 284.2%.

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Jeremy Owens is technology editor and bureau chief in San Francisco. You can follow him on Twitter @jowens510. This article first appeared in Capital, The Edge Malaysia Weekly from 20 September 2021 to 26 September 2021.

The Employees Provident Fund (EPF) took advantage of recent gains in the benchmark FBM KLCI to capture some gains for its 14.8 million members by reducing its holdings in some blue-chip stocks, particularly banks.

The nation’s largest pension fund took the action after the index rose 111.58 points, or 7.5%, to 1,601.38 on August 30 from a nine-month low of 1,489.8 on August 6.

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But will the Trust Board’s reduction in local stocks affect its support for the local market? What about the role of foreign funding, which was absent for most of the last two years, but has recently begun to loom large?

According to MIDF Research, foreign investors were net buyers of local stocks for the fifth consecutive week since Sept 10, although the figure slowed to RM433.16 million from RM786.42 million the previous week.

Year-to-date, foreign funds remained net sellers of RM3.79 billion, while local institutions paid out RM6.04 billion. Fortunately, retail investors stepped in to push through and were the only net buyers with RM9.83 billion.

EPF has invested in 24 of the 30 constituent stocks of FBM KLCI. Pension funds have started to sell off most of their constituents, particularly bank stocks, as the financial services index rose 5.6% in the past month, according to recent stock market data.

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Among banks, RHB Bank Bhd recorded the biggest decline in EPF at 0.518 percentage points (ppt), followed by CIMB Group Holdings Bhd (0.45ppt), Public Bank Bhd (0.44ppt), Hong Leong Bank Bhd (0.295ppt) and Malayan Banking Ltd. (0.118ppt).

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