Years back when Iris fiasco around the market. Everyone is so love and hate why the stock can grow from RM 0.10 below to RM 1.30. I cut short the story but I was lucky to sell off at that peak before it enter into a free fall.
Now Iris is trading at RM 0.470 where securities research houses further recommend it at RM 0.500 above.
I try to work out the formula how they calculate and using what kind of methods including forward earnings and fortune teller style to know the future. With the last two quarters latest earning where Iris currently trading at more than 20 times PE.
Beside of new governmental placement and rumour on foreign workers ID. May be even something that we don’t know. I will rather buy Google for this PE. We may be wrong, because we don’t have insider news. This is a classic example of over priced and trading with rumours.