COMFORTDELGRO Corporation shares hit a 52-week low a week ago on Nov 30 when it closed at S$1.37. This was in line with the decline in the blue-chip gauge Straits Times Index (STI) as the World Health Organization warned that the Omicron coronavirus variant poses a very high risk of infection.

Unlike the STI, however, the level that ComfortDelGro hit on Nov 30 was actually lower than the lows it hit back on Mar 23, 2020 - when the onset of the pandemic triggered a meltdown in markets across the world.

ComfortDelGro's share price has not only been relatively weak since the pandemic started, it had also been sliding since it announced on Nov 10 that it had put the brakes on the listing plan for its Australian unit.