Is the 1987, hit for Whitney Houston. Melewar industrial group announced a set of really poor results, which saw it suffer a first quarter loss of RM8.09 million versus a profit of RM1.47 million a year ago.
Investors have got "so emotional" and sold down Melewar shares which opened at 52.5 sen to 40.5 sen.
The stock is down about 26 per cent, and nearing Limit down level, unlike Lion Steel which closed down, Melewar is still a running concern, and has the ability to fill in some of the vacuum left by Lion.
