GRITEE, Inc.’s (KOSDAQ:204020) Share Price Boosted 53% But Its Business Prospects Need A Lift Too
GRITEE, Inc. (KOSDAQ:204020) shareholders would be excited to see that the share price has had a great month, posting a 53% gain and recovering from prior weakness. Looking back a bit further, it’s encouraging to see the stock is up 27% in the last year.
In spite of the firm bounce in price, GRITEE’s price-to-earnings (or “P/E”) ratio of 8.5x might still make it look like a buy right now compared to the market in Korea, where around half of the companies have P/E ratios above 13x and even P/E’s above 27x are quite common. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
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