by winston » Wed Oct 24, 2018 11:52 am
vested
SUNNY OPTICAL Dives 7%; A-shr Peer Intended Buy of Lens Biz Worries Mkt
SUNNY OPTICAL (02382.HK), amid market worry about heated rivalry from A-share peer who intended to tap into lens business, tumbled 10% at most this morning to bottom at $74.05.
The stock last printed at $76.45, down 7.1%, being the top loser among blue chips, with volume of 10.42 million shares.
O-FILM (002456.SZ) announced that its wholly owned subsidiary, FUJIFILM and FUJIFILM (China) negotiated for patent transfer and patent permission of lens; while also in talks with FUJIFILM and FUJIFILM Optics negotiated for an acquisition of 100% equity interest in Fujifilm Opt-Electronics (Tianjin). Both negotiations reached consensus.
Morgan Stanley opined the impact on SUNNY OPTICAL was limited, rating the stock Equalweight with target price of $95.
Yet, it dismissed concern about whether the A-share peer will expand customer base of car and handset lens on the related patents.
Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"