Lifetime Membership High, high into the sky! On 30 August 2024, Singtel share price smashed to a 4-year high to cross the pivotal $3.10 mark. The last time that Singtel share price was trading at this level was in February 2020 – the period right before the stock market plunged into chaos due to the pandemic. Fast forward four years later, even though Singtel share price had crossed the pivotal $3.10 mark, the counter has yet to fully recovered to the pre-pandemic levels.
The shaky confidence in Singtel share price is rightfully understandable. Those who are vested in this counter are mostly long-term investors who view Singtel as a dividend stock. Yet under the helm of the former CEO Chua Sock Koong, the company bizarrely took on a growth model trajectory as the management emphasized more on revenue growth through various acquisitions of loss-making digital companies. After the current CEO Yuen Kuan Moon took over in 2021, he managed to steer the ship back on course and re-fashioned Singtel as a dividend stock again.
It is still early days for investors to claim that Singtel share price has truly bottomed but the latest form of the shares represented a small win for investors.
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