Abnormal Trading in COAST Stock

August 30, 2009 by Saud

There was an abnormal trading pattern today in the Kuwaiti Stock Exchange for Coast Investment & Development Co. (COAST). The stock was uncharacteristically volatile as it opened limit up at 198 fils from Thursday’s close of 188 fils. A few minutes later it fell to its limit down of 178 fils, then back up to 194 fils, and finally closed 6 fils down. What’s going on?

Coast Kuwait Stock Exchange

COAST Co KSE

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading ... Loading ...

Tags: , , ,

This entry was posted on Sunday, August 30th, 2009 at 9:04 pm and is filed under Kuwait. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Abnormal Trading in COAST Stock”

  1. keynesian09 says:
    August 30, 2009 at 9:17 pm

    Saud I guess its speculators on Zain. You can see all sort of irregular action going on in Kharafi related companies. Look at PIPE (closed limit down at 250 fils) and even more interesting ALMAL which closed limit up Thursday and traded a peculiar 36M shares today. Its simply speculators wanting to get their share of the Zain pie. They saw NIC go up +100% and are now going down the quality curve to other Kharafi Cos.

    [Reply]

Leave a Reply