Quick takes from around the market
Hotel Sogo [link] considers itself the "7-11" of the hotel industry, with a plan to open 5 branches per year to put a Hotel Sogo in “almost all key cities in the country”. Is this bit of media, tied to a story about big capex requirements, part of a larger plan for Hotel Sogo to finally list on the PSE? If so, will the Kepwealth [KPPI 2.55 unch] backdoor rumors come true, or will this be done the old fashioned way?
PhilWeb [WEB 3.10 5.08%] [link] continues its hot streak, and is now up 38% this month, and 58% year-to-date. The rumor is that WEB was one of the best-positioned firms to “benefit” from a potential BBM election win, but it’s not fully clear whether investors were flocking to this stock out of desire for some of that upside, or protection from (further) potential downside in the case of a BBM win.
Solar Philippines NEC [SPNEC 1.54 2.67%] [link] owner, Leandro Leviste, is not the Loren Legarda son at the center of the Rappler article issue. Lorenzo Leviste, Leandro’s older brother, is the one who wrote the article disowning his mother for endorsing the Marcos/Duterte combo. Leandro wrote a letter of support for his mother, who looks poised to finish in the Top 3 of senatorial voting this election cycle.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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