It was February 18, 2011 MegaWide Construction Corporation had its IPO.
To date this company has been performing well with the proceeds from the IPO being capitalize on new hotel and condominium construction projects mainly from the SM Group.
The stock price of MWIDE drastically went up from its IPO price of 7.84 pesos to its current market price of 14.88 pesos.
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| source: http://investing.businessweek.com |
Now the question now is if MWIDE is still a good corporation to invest into? With the boom in condominium construction in Metro Manila and nearby provinces the outlook of most analysts is that we might end up into a housing bubble. Also lots of negative discussions in regards to condo living as compared against owning a house and lot has in a way scared some home buyers thus are now considering shifting to owning house & lots in their native province instead of owning a condominium in Metro Manila.
The continuing construction will surely boost MWIDE's profit in the near future as long as the condominium and other urban housing project continues. Another area which would help MWIDE's future is in pre-cast construction. Right now MWIDE is developing their pre-cast manufacturing complex in Rizal.
Looking at MWIDE's stock chart, it seems that it will continue on going up. Riding the trend might be the best way to profit from this stock.
Disclaimer: Opinions about MWIDE as written above is the author's personal opinion. Trade at your own risk.
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