₦airaland Forum

Isn't Ecobank just a poorer version of Access (strategically speaking) -- with a more expensive stock?

nosa2:
Everybody knows the quotes but when it is time to apply it they fall into the herd.

I remember arguing against the gurus that banks had no business trading at the valuations they were trading. Everybody and their mama had a reason why they should be trading at a discount. When price started to rise the guru analysts started to revise price upwards.

I get greedy when other people are scared and scared when other people are greedy.

All the points being mentioned against ETI are true historically but past performance is no indicator of future performance. What mankind2024 failed to mention in his epistle was that the company management bought out the strategic investor. Unlike Ellah where management is dumping shares, ETI management is tying their wealth to the bank's future.

Anyway all this analysis is on the Ngxforum thread.

PS Have you bought your ETI??

Could you explain how this compounding "trick" works mathematically, accounting for transaction fees?

KarlTom:
Sadly some so-called 'long-term investors' don't get the compounding trick.
Some are unwilling to sell high and reenter low simply because they have [and want to maintain] a low BE price...

PS: 222Martin wasn't the individual who sent that SC of 1m units of DANGSUGAR

More power. You have more guts than me.

I'd be careful to look beyond the headlines sha. Look at product-level information (Notes 7.1 - 7.3 in the annual financial statements) to get a clearer sense of the business trends and margins. But for a N4 bn increase in biometric-capture equipment sales, revenue would've been flat or down. Margins also collapsed. Your guess is as good as mine if customers will keep buying equipment at that level every year.

And with stock even now at depressed prices still at 50x last year's pro forma earnings? Phew.

yMcy56:
Go and check your comment again..
Meanwhile, I just pity those that picked @4.50 and above.....
I hope they can wait it out because this dumping won't continue forever or unabaited.....
It's an opportunity to watch out for bottoming ....

I still get small at 2.82 today
3.07 yesterday
Let's see how it goes in the long-run....

Thanks. You still have to submit even if you have other shares from the same registrar?

deathwing:
Yes.

I thought you said my bearish comment about Chams was "careless."

yMcy56:
What could be happening in CHAMS?
This heavy offloaders and the offloading is becoming scary!!

Although the lower it goes, the better the bargain becomes.......but people have been buying since it was 4.50 or above!
Make the Whales pity people's funds abeg.....🙏

Only God knows how many billions of units these guys warehoused!

NGX won't see or investigate into this kind of scenario that has been going on for long now.

Do you have to submit an e-dividend/bonus mandate to alert the registrar each time you buy a new stock?

Which business? Card printing? Isn't that Cham's current low-margin business?

leo1234:
Serious Business expansion from the proceeds of the right issues.

Expect substantial revenue increase from q2.

What prospects are you seeing, please?

leo1234:
Chams has good prospects
Maybe q1 report will not be too good.

I have plan to buy chams but no free fund for now.

One stock that barely gets mentioned here: JBERGER, the construction giant. Up 95% since Jan and 135% in the last 6 months. And still trading at 15x trailing earnings with zero debt.

Low-margin like Chams, which trades at like 30x earnings, but JBERGER has high revenue and improving margins.

That's why Nairaland has different threads. If you want to talk about blue film, there is a thread for it. Take it there. Not here.

Mbok.

zendi:
Hahaha, nawaao, I'm among the trailers oo, when I have chance

But let me ask you something.

The people selling yams in the open market, do they talk only yams, yams, stocks, yams all day long, all week long, all month long ?

The answer is no, humans are not made that way.

When they're not busy with yams dealing, yam ssellers do lift up their heads to talk of weather, church, politics, football, romance etc.

All work and no play........

Why not learn to find it yourself?

Go to https://ngxgroup.com/exchange/data/corporate-disclosures/
In the Search box, type in the name of the company, in this case "Zenith"
Scroll down and look for the document named something like "Corporate Action" and click on it
The details of the dividend/bonus will be in the pdf document
Bookmark the link above so you can access it whenever you want.

Bizibi:
...

has zenith Bank announced payment date

That is ehn... I've having trouble finding the market-relevant posts because of this unending political debate.

Please stop.

crownprince2017:
You guys should pls stop derailing the forum na abi which kind wahala be this one.

Me sef I'm lost...

mikeapollo:
People sabi big big grammar for here oooo. I swear!
Professors looking for money in NGX. Chai

See the bolded. This is like saying a person's success was beyond his ritual killing. After all, he was also very strategic.

opadiya:
What is wrong with the statement? I commented that someone was very strategic and you responded that his being strategic was as a result of insider information. I gave a reply that what made the man thick was beyond insider information. I even advised you to read the man's numerous comment on this thread.

Stick to the disscussion and stop teaching me
your nutshell knowledge of what insider information is.

Let's not make it personal. But there's so much wrong with this statement. First, you shouldn't be trading at all on inside information. It's actually illegal to do so, and it's the reason insiders are subject to closed periods. Second, you can be smart and still do insider dealing. Doesn't make it legit.

opadiya:
You may need to read the man's trading/investing positions here to know that his enormous strength transcends insider information.

Lol. If you had inside info, your moves would also be "strategic."

opadiya:
The man is awesome.
His knowledge of the market is top class.
His moves are always strategic.

And his opinion about the market or stock is always predicated on sound reasonings.

Respect.

I've been a consistent Ellah bear but mehn your tone almost makes me want to buy the stock. It's one thing to over-promise and under-deliver; it's another thing to be "dishonest" and to "lie" to investors.

Let's stick to facts and numbers. It's not personal na.

Mankind2024:
A dishonest and ineffective management team is far worse than a poor investment decision. A CEO who tells one lie often needs many more to cover it up. That, unfortunately, is the reality with Mr. Mordi and his team.

The bigger issue is that without this ₦7bn received from insiders and due back after the failed public offer but still held as a payable, Ellah Lakes would be technically insolvent. They only have about ₦3bn in cash and other current assets.

If there is a falling out among the insiders or if one party faces their own financial crisis and needs to "call in" their support, the company has no visible cash buffer to survive the demand.

And we're not even talking about the reputational and trading impact of a potential SEC investigation yet. For the remaining believers out there: Extreme caution advised.

KarlTom:
Does it mean that Mr Chuka and other directors only gathered ₦7bn ?
Even, the CFO, Mr Hewett Adegboyega Benson couldn't pull FPI?

Money no dey but they spent ₦1,701,905,000 on the PO.
It is well...

The last statement got me rolling

People, not another Middle East political debate abeg. The last one tire everybody.

Which part of my comment did you deem careless, please? And what is the stock doing in response to the results you seem to like so much?

Are we looking at just the headlines or trying to understand the business? The fundamental story of Chams is that it's a low-margin price-taker. These results affirm that, and margins are headed in the wrong direction despite modest growth and brutal cost discipline. I'm sorry you like the stock, but that investment story is not a screaming buy.

yMcy56:
Pls don't make careless remarks just because you don't have the stock or you want to get back to someone.

Nothing is wrong with CHAMS result, in fact there's a lot of improvements there.
Revenue increased, PAT increased.

By the time the Court judgement is announced in favour of CHAMS, there'll be more revenue to do biz and CHAMS price will appreciate more.

What we are witnessing in the market shares of CHAMS may have a pointer to positive things.......Are you even following it at all?

I replied you here because I've been gotten chat messages asking me what you mean and what it implies...
* This forum is wider than we think, let's all desist from derogatory posts that could affect some investors negatively pls.

Curious about the flurry of recent insider buying of NGXGROUP in March alone, after results dropped-- even at already high prices. Someone just dropped N4 billion at average price of 170.54.

[Full disclosure: I own a bunch of stock in the exchange.]

https://doclib.ngxgroup.com/Financial_NewsDocs/236_TRW_Stockbrokers_Ltd_-_Share_Dealing_Notification.pdf

Meanwhile, complete radio silence from our friends at Ellah Lakes, who promised to close the ARPN acquisition by today.

https://ellahlakes.com/wp-content/uploads/2026/02/23-Feb-2026-Ellah-Lakes-Plc-Announcement-of-Public-Offer-Closure.pdf

Tough year for the remaining Chams hopefuls. Revenue up, but gross margin, already stratospherically low for a "tech" company, collapsed from 29% to 21% YoY.

But Loco has moved on. Predictably.

Huh? Is this satire?

Mankind2024:
Logic is a criterion for evaluating arguments.
In this context:
Skye Bank acquired Afribank and subsequently collapsed ("KPAI". (T)
It was later taken over by the Central Bank of Nigeria (CBN) and rebranded as Polaris Bank.(T)
Access Bank has acquired both Intercontinental Bank and Diamond Bank.(T)
Question: What is the logical fate of Access Bank?
Conclusion:
Therefore, Access Bank is on its way to suffering the same fate that befell Skye Bank. This statement is true. There is no negation to warrant further argument.

This is an example of logical analysis, similar to the following inference:
EDUECO is a forum member of NSEMPA.(T)
99% of NSEMPA members are investors or traders in the NGX.(T)
Therefore, EDUECO is most likely an investor or trader.(T)

Ah, okay. That makes sense now. The numbers add up.

That's actually a remarkable performance for the quarter. Well done! Do you do as well in bear markets?

awesomeJ:
@HeisinMe, it looks like you edited your post to mention the specific figures you're not clear about.


11m is value of equity(stocks alone) held in January.

21m is the portfolio value( 11m stocks + 10m cash)

Usually 10-70% of my portfolio is held in cash. It has to be that way for every trader.


I hope this is clear now.

I also think the reports labels them distinctly??

I updated the post with numbers. Please see.

awesomeJ:
I don't get what you mean?

Could you point out the figures you're not clear with?

I think your questions are asked in good faith, so we're good, and I'd be happy to clarify.

No offence, but the big changes in your starting (21 vs 11m) and ending (57 vs 48m) equity balances make this report a little suspicious o.

I'm not questioning your legitimacy. But the beginning and ending balances are usually the surest numbers: You get them from trading account statement balances; they're not calculated like trading volumes are.

Maybe check again?

awesomeJ:
Great questions.

As for the top line, Total volume traded is more important than just sales in this business, maybe you do not agree.

As for the gross profit. I was already thinking it was too vague in the report while i went to my barber's this morning.

I'm back now, and i've updated the code to add more context.



Gross profit = Total sales - value of stocks held at start - value of stocks purchased + value of stocks held at end.

see:

Kudos. This is a bit of an unconventional way to represent the top line of a proprietary trading business. If you could explain: What does "Gross Profit" here mean, and how did you estimate it?

awesomeJ:
Guys, I have some preliminary Q1 numbers for my trading, they're pretty compared to last quarter.

N1.65bn with 2.16% net margins traded compared to N669m at 1.32

the quarter still does have 2 more days sha, but i just finished vibe coding this income statement feature so I'm happy to share.

Full quarter volume will be above N1.7b with earnings likely to top N37m

I paid N1.3m for just stamp duties alone

Kudos, this version is more digestible, but no ROYALEX again?

This is the issue with whimsical trading. It's like reconnecting your power line in the dark: Sometimes, hallelujah, the light comes back on; sometimes, amen amen, you get serious shock. Either way, you can't tell which way the current flows.

Stockpromoter:
INSURANCE SECTOR UPDATE (TA SUMMARY)

Accumulation phase ongoing (pre-breakout)
Index below 1,350 resistance → no confirmed breakout
Volume still selective → no full sector expansion
Money flow in AIICO, MANSARD, VERITAS, SOVRENINS
Key trigger: Hold above 1,300 → move toward 1,350

---

STOCKS TO BUY (INSURANCE ONLY)

Strong (Low Risk)
MANSARD (₦15.80) → Target: ₦17.5 – ₦19
NEM (₦34.00) → Target: ₦38 – ₦42

Momentum (Best Setups)
AIICO (₦4.15) → Target: ₦4.8 – ₦5.2
VERITASKAP (₦2.15) → Target: ₦2.6 – ₦3.0
LASACO (₦2.40) → Target: ₦2.8 – ₦3.2

Speculative (Recap Plays)
SOVRENINS (₦2.29) → Target: ₦2.8 – ₦3.2
FTGINSURE (₦1.47) → Target: ₦1.8 – ₦2.2
MBENEFIT (₦4.70) → Target: ₦5.5 – ₦6.2

---

LOCO QUICK CALL

Accumulate before breakout
Focus on mid + low caps
Watch 1,300 hold → 1,350 breakout

Just so it's crystal clear: Your argument about CWG's future performance is based on past performance, despite the concentration risk and weak moat, right?

It's not like you're seeing some underappreciated growth trigger. Just past performance?

iskalamong:
That company’s historical financials speak volumes in terms of exponential growth. The price movements have also been impressive. The stock is a multibagger stock and based on their recent numbers, there seems to be more gas in their tank.

I understand your point in terms of their undiversified customer base (customer concentration risk). It is valid but that stock is potentially one of the biggest (and financial performance backed) compounders on the NGX in recent times. Very similar to NAHCO, PRESCO and SEPLAT. Other stocks that may tow that path are ARADEL and TIP.

Best regards,

Iskalamong!

.

.

What exactly do you expect to change about the company in the next two quarters?

leo1234:
Royalex will still deliver.
Why not wait for q1 and q2 financial report before jumping to any conclusion.

@Stockpromoter knows what he is doing.

I started buying Royalex from 1.75 and will buy more if it goes lower.