$RAFFLES MEDICAL GROUP LTD(BSL.SI)$

Raffles Medical Crashed 10% in Two Days: Should Investors Buy the Dip?

The integrated healthcare provider saw its share price plunge this week. Should investors bite?

Raffles Medical Group (SGX: BSL), or RMG, witnessed a sharp turn in fortunes this year.

The integrated healthcare provider, which owns and operates its flagship Raffles Hospital in North Bridge Road, reported a sparkling set of earnings for its fiscal 2021 first half (1H2021).

Revenue surged by 42.4% year on year to S$343.8 million as the group supported the government in its COVID-19 vaccination and Polymerase Chain Reaction (PCR) swab test initiatives.

Net profit more than doubled year on year to S$39.4 million.

In contrast, 1H2020 saw a 5.4% year on year dip in revenue while net profit plunged by 41.6% year on year.

Unsurprisingly, RMGs share price has been on a tear, rising from S$0.99 at the start of this year to a high of S$1.54 last Friday.

However, in the last two days, the healthcare provider’s share price has crashed by 10% to S$1.38.

Does the decline present an opportunity to accumulate shares in the group?

Or should investors remain wary and stay on the sidelines?


https://thesmartinvestor.com.sg/raffles-medical-crashed-10-in-two-days-should-investors-buy-the-dip/

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