Is the 1984 hit for pop duo, Hall & Oates, taken from the album big bam boom.
Big Bam Boom, looks exactly like what's happening to Air Asia, the stock is the third most actively traded stock, down by seven sen to RM2.53.
The sell down is almost totally is due to foreigners selling off Malaysian assets, because Bank Negara Malaysia's actions are disjointed, not well thought off, and is a recipe for panic.
Now, in one of the most OUT OF TOUCH research report, Hong Leong Investment Bank Research (HLIB), which values AirAsia at RM3.85, wants investors to accumulate AirAsia shares.
“We view that recent sell down (mainly by foreign shareholders on ringgit depreciation impact to ringgit investment value) presents an attractive entry point for local investors to accumulate AirAsia shares, " Hong Leong.
Now if Hong Leong really believes that AirAsia should be worth RM3.85 based on current reality on the ground, I suggest they go CONVINCE, Quek Leng Chan to put down his money, based on the quality of the report, and see for themselves, his REACTION.
