But some investors will remember it for the handful of companies that delivered triple-digit rise in stock prices amid the gloom and doom brought about by the pandemic.
Here are the top 10 best performing stocks that kept investors hyped while being locked in self-quarantine at home:
1) MerryMart rocketed 312 percent to P6.18 from its initial public offering price of P1.50 six months ago. MM’s dizzying rise enabled Mang Inasal founder Injap Sia to come back to the elite list of Filipino dollar billionaires after a three-year absence.
2) AC Energy zoomed 293 percent to P9 from P2.29 year to date. The company chaired by Jaime Augusto Zobel de Ayala has defied analysts’ warnings that its stock was too expensive at more than P3. ACEN posted P2.93 billion in profits through the first nine months of 2020. ACEN is on track to boosting its capacity to 5,000 megawatts by 2025 (from 1,000 MW) with the entry of a GIC affiliate (P20 billion for 17.5 percent), P8.1 billion stock rights offering in 2021, and $300 million “green” bond issue.
3) Premiere Horizon climbed 223 percent to P1.10 from 34 centavos a year ago. This shell company came to life after Squidpay’s Marvin Dela Cruz took over 55 percent of PHA for P925 million a month ago.
4) MRC Allied soared 215 percent to 59 centavos from 18.7 a year ago. MRC is in the midst of a transformation into a holding firm under PT&T chairman Buddy Zamora.
5) Mining firm Apollo Global Capital jumped 205 percent 12.8 centavos from 2019. APL started its surge in November following news that Chinese resto king turned “iron man”, Frank Lao, would bring in two vessels, worth $20 million each, that would unlock the firm’s magnetite iron prospect off Zambales.
6) Nihao Mineral Resources rose 196 percent to P3.02 from P1.02 last year. NI rode on the back of renewed speculation on the mining industry after Finance Secretary Sonny Dominguez pushed for the revival of the industry three years after then Environment Secretary Gina Lopez closed down mining companies.
7) Dito Telecommunity rang up 181 percent to P10.90 from P3.88 last year. Dennis Uy made a lot of tsupiteros happy after he finally injected his telecommunication business into the shell company previously owned by Bobby Ongpin.
8) Benguet stepped up 174% to P3.10 and 150% to P3 for B shares. The Romualdez-led firm reversed its fortunes and posted P82.84 million in the first nine months due to rising gold and nickel prices.
9) Atlas Mining increased by 158 percent to P6.46 from P2.50 in 2019. The mining firm led by the son of bilyonaryo Fred Ramos, Adrian, posted P490 million in the first three months this year on higher gold and copper prices and bigger volume.
10) Abra Mining soared 107 percent to 29 centavos from 14 centavos.