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Flour Mill Plunges to a Year-Low of N13.35

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5 years ago

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  • Flour Mill Plunges to a Year-Low of N13.35

Flour Mill of Nigeria Plc (FMN) continues to fall despite renewed interest in the Nigerian stock market.

The stock tumbled from N34.95 it traded in the last 12 months to a year-low of N13.5 on Tuesday.

The stock shed 0.36 percent on Monday and 2.91 percent on Tuesday to bring its year-to-date to 61.8 percent.

The stock continued to underperform the benchmark index and consumer goods index that have so far returned -3.9 percent and -16.2 percent, respectively.

Despite experts attributed the bearish trend to general weakness in sentiment due to the lack of economic stimulating policies following the general election, FMN fundamentals remain unattractive.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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