A month ago I had heard a rumour regarding TKN potentially being acquired by an MNC.
A: Initially I thought the the price movement on the 29th September when the share price moved to 11.50/baht (from 10) intra-day was the beginning of the move. Over the next few days we realised that this wasn’t the case and discussions with local traders led us to learn that a local group may have just been speculating on the shares.
B: Then on the magical day that is Wednesday 7th October.~10.30AM we a received a message from a great institutional research lady that there was a rumour that TKN may be a acquired by a local conglomerate which then led to messages back and forth about discussions at the FTI where comments were made by an officer regarding TKN potential being acquired by an MNC.
C: ~11.00 AM Our sales from one our brokers gave us a call saying they heard a rumour re TKN being in play
D: ~11.30 AM A second broker begun messaging around that TKN was in play
E: ~2.30PM A third broker begun messaging that TKN was in play.
We had a great time following this newsflow (and thanking the trading gods for allowing us to exit).
What do I think about TKN now? Well despite it being put on the cash balance by the SET (i.e. no margin trading) the share price still hasn’t dropped back to pre-rumour levels, perhaps there is something going on. Who knows. Deals can fall apart. Maybe it never existed. But this is the anatomy of a rumour.
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