Ipit! Gus Cosio advises MRC, PHA holders to be patient: Both are small cap stocks, not blue chips
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Ipit! Gus Cosio advises MRC, PHA holders to be patient: Both are small cap stocks, not blue chips

Investment banker Gus Cosio got ambushed on Twitter by a few irate investors of MRC Allied Industries (MRC) and Premiere Horizon Alliance (PHA) while hyping the P7.5 billion follow-on offering of The Keepers Holdings.

“The country’s main distributor of these magnificent products (Johnny Walker) will soon be selling shares to the public,” tweeted Cosio who described KEEPR’s owner, bilyonaryo Lucio Co, as a “man with the Midas touch.”

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KEEPR’s FOO will be held from November 8 to 12, with the shares to be listed on the Philippine Stock Exchange on November 22,

A Twitizen asked him about MRC and PHA where he is president/CEO and chairman, respectively. Another inquired about any good news on the “bottomless” MRC and PHA.

MRC is down 52 percent year-to-date to 28.5 centavos as of October 15 (it peaked at 96 centavos in January this year). PHA is off 26 percent year-to-date to 81 centavos based on the recent market close (it jumped to an all-time high of P3.45 52 in March this year).

Cosio replied that these stocks were “still working on creating value.” He also advised MRC and PHA investors not to be “impatient” as he reminded them that these were “small cap stocks not blue chips.”

The former boss of First Metro Investment, BNP Paribas, PNB Securities and Deutsche Bank deserves some props for gamely answering his critics face-on instead of blocking or muting them.

 
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