For a Background to this series of summaries at the close of each trading day, READ: Introduction to Trends in Unashig's CBshare Price and Market Capitalization (availed at this link)
Share Price and Market Capitalization on Specified Days of the Week:
Friday, July 30th, 2021: Share Price and Market Capitalization at the Close of Trading Day.
At KES 2,458.00 per share (translating into US$ 22.63 per share, at the forex rate of KES 108.60 per US$), CBshare's price closed the day, and week, 0.40% lower than it had the day before, and 1.55% lower than last Friday's mark. Still, though the force of the dip was detectable, CBshare did relatively better than two NSE indices, namely, NSE 20 index (down 0.66%) and NSE 25 index (down 0.42%). On the other hand, two indices did better than it did, namely: NASI (down 0.16%) and FTSE NSE Kenya 25 index (down 0.23%). The see-saw continued -- continues. No additional CBshares were sold today, and no quoted shares were bought by Unashig.
Despite frequent ups-and-downs on the bourse, the price of a CBshare has, almost unnoticed, accumulated 20.34% in additional value, YTD.
Unashig's market capitalization also dipped 0.40% from Thursday's close, settling at KES 7,676,599.00 (or US $ 70,686.92). On a YTD basis, however, it had risen 38.64% at the close of Friday. Since December 31st, 2019, its value has more than tripled -- closing with a 352.53% gain.
[Apology: This is the first time we have released a close-of-day report more than 20 hours late. We had wifi challenges, and so no computer access to the internet -- and, more specifically, no access to our cloud resources -- from mid-afternoon yesterday to around 11:30 AM this Saturday. In the end, as it turned out, it wasn't the router/ modem that had seen its last. Instead, it was the charger that needed replacing, as the Technician, who arrived at last just before 11:00 AM today, discovered. He gave us a new one from the service provider (his employer)]
Thursday, July 29th, 2021: Share Price and Market Capitalization at the Close of Trading Day.
The price of a CBshare rebounded to close the day 0.78% higher, at KES 2,467.97 (or US$ 22.73, at the forex rate of KES 108.60 per US$). This gain was realized without any addition to Unashig's portfolio of shares quoted on the NSE, and even though the quantum of outstanding CBshares remained steady at 3,123.11. It was all due to the momentum we have steadily built into the portfolio (by way, for example, of diversified investment and frequently buying the dip) as we wait for surge-bearing opportunities to show up.
Today's 0.78% rebound means that CBshare did better than each the four NSE indices that we now track, namely: (1) FTSE NSE Kenya 25 (up 0.68%), (2) NSE 25 (up 0.66%), (3) NASI (up 0.50%), (4) NSE 20 (up 0.48%).
YTD, the price of a CBshare reversed course to close 20.83% higher than the price it stood at (namely KES 2,042.50) at the start of 2021. On the YTD growth curve, today's closing price also marked the highest point since July 27th.
Like the CBshare price, market capitalization ended the day with a 0.78% gain. It closed at KES 7,707,739.00 (or US$ 70,972.66). On the YTD curve, it rose to the 38.62% point. Its rise since December 31st, 2019 hit the 354.36% mark today.
Yesterday we noted that extrapolating the CBshare price to all the 7,000 authorized shares already in Unashig's books would raise the company's market capitalization to KES 17,142,580.00 (or US$ 157,850.64) at yesterday's price. The truth is that nothing stops Unashig shareholders from passing a resolution at the company's AGM to raise the number of authorized CBshares to 100,000 or more. The end-result of raising the shares to at least that level, and getting more and more investors to buy more and more of them, would be to extrapolate (or raise) Unashig's market capitalization to KES 246,797,000.00 (or US$ 2,272,532.23) at today's price! In all likelihood, however, the CBshare price would be two to three times its present level two or three years from now. As CBshare's value rose, so would inverstors' entusiasm for it.
Wednesday, July 28th, 2021: Share Price and Market Capitalization at the Close of Trading Day.
CBshare's price slipped yet again, closing at KES 2,448.94 (or US$ 22.55, at a weaker forex rate of KES 108.60 per US$). Though this 0.33% dip was less steep than yesterday's closing level of -1.38%, it was nevertheless outperformed by all the four indices which we will now routinely track: NASI (-0.12%), NSE 25 (-0.12%), FTSE NSE Kenya 25 (-0.12%) and NSE 20 (-0.28%). No CBshares were sold by Unashig today, however. Nor did we buy any shares quoted on the NSE.
In YTD terms, the growth trajectory of CBshare's price has today dropped below 20%, closing only 19.90% higher than where it started this year (i.e. KES 2,042.50). We do believe that there is still much momentum to be realized in our current holdings -- and in the prevailing "dividends season". We see unfolding, and 'contrarian', opportunities to buy the dip and grow long-term value.
Market capitalization also dropped 0.33% to close at KES 7,648,324.00 (or US$ 70,426.56).. This dip was also less steep than we saw at yesterday's close. On a YTD basis, market capitalization has indeed recorded a 37.56% gain. On a growth curve, however, it would indicate a dip when compared to yesterday's closing number (i.e. 38.02%).
A similar trend is seen when we look at the period since December 31st, 2019, during which it has now registered a 350.86% gain. Only yesterday, however, it closed at 352.37%. No one really knows exactly where it will close tomorrow, though we can make some extrapolations.
All in all, Unashig's market capitalization has strong foundations. Indeed, if we were to extrapolate its value to all the 7,000 currently authorized CA & CB shares today, its present value would be KES 17,142,580.00 (or US$ 157,850.64). Who knows where it will be at the end of this year, or 2022?
Tuesday, July 27th, 2021: Share Price and Market Capitalization at the Close of Trading Day.
CBshare's price closed 1.38% lower, at KES 2,457.14 (or US$ 22.65, at the forex rate of KES 108.50 per US$). This placed it behind the three NSE indices, in this order: NASI (down 1.29%), NSE 25 (down 0.67%) and NSE 20 (up 0.06%).
No CBshares were bought today either. However, Unashig divested entirely from both Longhorn Kenya LTD and WPPScangroup, and ploughed the proceeds into six companies in which it is already invested. It also made an initial foray into two new companies, namely: Kakuzi Plc and Liberty Kenya Holdings.
The gain in CBshare's price stands at a respectable 20.30%, YTD, even though this represents a dip from Monday's close.
Unashig's market capitalization declined 1.38% from yesterday's close, and settled at KES 7,673,915 (or US$ 70,727.33). YTD, it has now recorded a gain of 38.02%. Since December 31st, 2019, its cumulative gain now stands at 352.37%, despite occasional and even predictable headwinds. There will be tailwinds ahead, as well, for sure.
Monday, July 26th, 2021: Share Price and Market Capitalization at the Close of Trading Day.
CBshare's price closed 0.21% lower, at KES 2,491.41 (or US22.97, at the forex rate of KES 108.45 per US$). Consequently, it underperformed all the three NSE indices; that is: NSE 25 (up 0.42%), NASI (up 0.26%) and NSE 20 (up 0.02%).
No CBshares or NSE-quoted shares were bought or sold today. But the CBshare price-curve dipped only a little to close with a still-respectable gain of 21.98%, YTD.
FOR SUMMARIES OF EARLIER DATES, PLEASE READ: UNASHIG's Share Price and Market Capitalization of Holdings Quoted on the Nairobi Securities Exchange_ July 19th to July 23rd, 2021 [A links to earlier dates will be found there]
