Should you take the bait on fish farms?
Are fish farms a safe haven from the global economic turmoil? They apparently are for at least one investor. Amid a massive global sell-off yesterday, only one stock in Abu Dhabi finished in the green - the International Fish Farming Holding Company, a small aquaculture firm located in Dubai. The firm finished ahead almost 4 per cent with a whopping 2,700 shares traded. Very likely the volume was due to a single trade.
Whatever the cause, other investors failed to take the bait. The stock plunged 10 per cent today, giving up all of its gains from yesterday. Maybe fish farms are a contrarian indicator? Could this spawn a larger trend?
Published: May 26, 2010 04:00 AM