GLO gained 14 percent to P2,600 on August 25 on net foreign buying of P695.38 million.
In a world of money-losing unicorns, Ernest Cu finally proves GCash can make a profit
The Ayala-controlled stock reached a new 52-week high of P2,700.
GCash expands money transfer service
COL Financial research chief April Tan tweeted:
“The biggest question on my mind is if the stock will finally break above its all time high of P2,720 which it hit in June 2015? After all, GCash finally turned profitable in June and is now worth A LOT!”
GLO up 14% today and at one point, traded at P2,700!
The biggest question on my mind is if the stock will finally break above its all time high of P2,720 w/c it hit in June 2015? After all, GCash finally turned profitable in June and is now worth A LOT!
— April Tan (@AprilLeeTan) August 25, 2021
GCash president and CEO Martha Sazon said the company has finally achieved positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and Net income After Taxes (NIAT) for the first time since it started in 2004.
Ayalas’ gold mine: GCash valuation could double to $2B in planned IPO – COL
GCash is now processing P300 billion in monthly transactions with more than 2.5 million sellers.
GCash mulls IPO for future growth
Sazon expects GCash to triple its gross transaction value to P3 trillion in 2021.
The post GCash smash: Globe shoots up 14%, nears all-time high first appeared on Bilyonaryo Business News.
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