Stock crashes 40% more, buyers remain a mystery | business | Hindustan Times
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Stock crashes 40% more, buyers remain a mystery

business Updated: Jan 09, 2009 22:19 IST
HT Correspondent

Investors continue to lose their money as Satyam Computer’s share price fell by another 40 per cent to close the week at Rs 23.85 after touching an intra-day low of Rs 11.5. Questions lingered: what is the real worth of the company? Who would find it worthwhile to get in now?

As the shares touched a low of 11.5, experts believe that it was a good price for traders to get in.

“Traders looking to make quick money had little to lose at those levels and they would have acquired the stock as the upside is huge if the stock recovers,” said a market expert who did not wish to be named.

Experts maintain that at these levels there are few sellers and the institutional investors have already sold and that arrested the price fall in the range of Rs 18-Rs 22.

The business still has value as the company has customers and people with it, however of something positive does not come up over the next couple of days the fate of the stock could be bad.