The shares of listed retail store operator Puregold Price Club Inc. landed among the top gainers as it recorded a new 52-week high during last week’s trading. Puregold saw its shares finish 5.47-percent or P2.80 higher to P54 apiece on Friday amid the 0.63-percent dip of the benchmark Philippine Stock Exchange Index. Philstocks Financial Inc. research analyst Claire Alviar said Puregold’s shares have been consolidating before the breakout in the last trading day last week. Alviar added that August is one of the best months for Puregold as aside from reaching a new 52-week high, it also rallied 12.5-percent month-on-month. “Meaning, people should not be afraid to spend money, in this way, consumer stocks, including Puregold, would benefit, boosting sentiment towards Puregold,” she noted.

Source: Manila Times August 30, 2020 16:52 UTC