{"id":22216,"date":"2021-01-22T19:41:16","date_gmt":"2021-01-22T19:41:16","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=22216"},"modified":"2021-01-22T19:41:16","modified_gmt":"2021-01-22T19:41:16","slug":"jatu-nose-dives-40pc-in-three-weeks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/jatu-nose-dives-40pc-in-three-weeks","title":{"rendered":"JATU NOSE-DIVES 40PC IN THREE WEEKS"},"content":{"rendered":"<p><strong>AfricaPress-Tanzania:<\/strong> JATU shares\u2019 price is falling at an accelerating pace after nose-diving by 40 per cent in the last three weeks. The shares plunged from 3,260\/- at the beginning of the year to 1,920\/- on Tuesday.<\/p>\n<p>Tanzania Securities said in its daily market report that Jatu counter was still active trading albeit at falling prices.<\/p>\n<p>\u201cJatu counter is still trading, but with falling prices,\u201d Tanzania Securities\u2019 report said. Jatu, listed late last November, appreciated seven times. The price rallied from 420\/- to reach its peak of almost 4,000\/- and made an abrupt U-turn in the second week of this year. \u201cThere has been no fundamental ground on Jatu\u2019s share price increase or a technical factor that justifies the same,\u201d Tanzania Securities\u2019 Jatu Equity Research report said.<\/p>\n<p>The report, however, said lack of supply had been the main reason for share price appreciation. Jatu, for about three years, posted a net profit of about 6.0m\/- to 40m\/-. But Tanzania Securities projected the firm to make a loss in 2020.<\/p>\n<p>Tanzania Securities forecasts Jatu\u2019s profit after tax for 2020 to decline to a loss of 110.78m\/- from the profit of 40.08m\/- in 2019.<\/p>\n<p>\u201cThis indicates that the company may look too aggressive in their forecasts and ignore the fact that start-ups companies face a lot of challenges and risks despite Jatu being in the cash cow industry,\u201d Tanzania Securities\u2019 report said.<\/p>\n<p>However, Jatu forecast a loss of 33m\/- in 2020 while in a real sense it made a loss of 48.04m\/- for the year ending last June. Tanzania Securities also said Jatu\u2019s share was overvalued and the company fair value price was 407\/56 per share.<\/p>\n<p>However, independent valuation, included in an information memorandum used during the listing, placed values of Jatu between 410\/- and 430\/-. Orbit Securities, a leading stock brokerage firm, said in a report earlier that the mystery of the sharp rise in the price of Jatu was mostly due to two main factors.<\/p>\n<p>\u201cOne is the membership requirement to own at least 200 shares to be eligible to participate in the farming project&#8230;with a limited number of shares,\u201d Orbit said in its weekly Market Synopsis report.<\/p>\n<p>The firm also said the second factor was the sharp rise itself which sets a momentum of speculators to vie for the shares.<\/p>\n<p>Currently, Jatu has a total authorised share capital of 125bn\/-, consisting of 250 million ordinary shares at a nominal value of 500\/- per share. The total issued and paid-up share capital amounts to 1.082bn\/-.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Tanzania: JATU shares\u2019 price is falling at an accelerating pace after nose-diving by 40 per cent in the last three weeks. The shares plunged from 3,260\/- at the beginning of the year to 1,920\/- on Tuesday. Tanzania Securities said in its daily market report that Jatu counter was still active trading albeit at falling prices. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":22188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[6409,711],"class_list":["post-22216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-tanzania"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JATU NOSE-DIVES 40PC IN THREE WEEKS - Tanzania<\/title>\n<meta name=\"description\" content=\"JATU shares\u2019 price is falling at an accelerating pace after nose-diving by 40 per cent in the last three weeks. The shares plunged from\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/jatu-nose-dives-40pc-in-three-weeks\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JATU NOSE-DIVES 40PC IN THREE WEEKS\" \/>\n<meta property=\"og:description\" content=\"JATU shares\u2019 price is falling at an accelerating pace after nose-diving by 40 per cent in the last three weeks. 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