Has Jumbo stock priced in growth story?
RESTAURANT group Jumbo Seafood appears to have the necessary ingredients to realise its ambition of becoming a regional name - something that will whet the appetite of investors. Listed on Catalist in November 2015 at an issue price of S$0.25 a share, the stock is now trading at S$0.72.
While the home-grown group has been ramping up expansion plans in overseas markets, which should fuel growth over the mid to long-term, a good question to ask at this stage is whether the stock has already priced in the growth story.
Last month, Jumbo announced a joint venture to open the first Jumbo seafood restaurant in Beijing with a joint venture partner, retail group Beijing Hualian Departmental Store, in the third quarter of this year. The new outlet will boost its presence in China, where it already has three restaurants in Shanghai.
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