China is looking at reducing spending on gaming and this news was priced in aggressively. Prosus was a stock I was looking into last week but the price was too high with signs of slowing momentum to the upside. The 52-week moving average was showing signs of not being able to sustain the price above it.
Today, we had the opportunity to jump into Prosus at a MASSIVE discount and our buy order was filled at $24.50. The news has already been priced into the stock unless another surprise is around the corner to make the stock tank again. If not, we are expecting the share price to hold above $24.00 moving forward.
Today, we had the opportunity to jump into Prosus at a MASSIVE discount and our buy order was filled at $24.50. The news has already been priced into the stock unless another surprise is around the corner to make the stock tank again. If not, we are expecting the share price to hold above $24.00 moving forward.