Phoenitron Holdings Limited’s (HKG:8066) Share Price Is Still Matching Investor Opinion Despite 29% Slump
The Phoenitron Holdings Limited (HKG:8066) share price has softened a substantial 29% over the previous 30 days, handing back much of the gains the stock has made lately. Nonetheless, the last 30 days have barely left a scratch on the stock’s annual performance, which is up a whopping 599%.
In spite of the heavy fall in price, you could still be forgiven for thinking Phoenitron Holdings is a stock not worth researching with a price-to-sales ratios (or “P/S”) of 2.5x, considering almost half the companies in Hong Kong’s Tech industry have P/S ratios below 1.2x. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the elevated P/S.
