24th May, 2019

On the Bid Cart: ETI led the bid cart today gaining 984bps to settle at N 10.05 as investors took advantage of the stock trading at it's year low of N 9.15 in the prior session. ETI has traded as high as N 15.00 over the course of the year after which the best fit line of the price chart shows a downtrend that led the stock to it's year low on the 22nd of May, 2019. ETI has declined 28% YTD.

On the Offer Cart:  After trading at a premium as high as 77% to it's listing price of N90.00, MTNN saw it's first session of losses today. The telecoms stock shed 604bps to settle at N 140.00 as investors began to take profit on the massive rally of the stock price, trading with a 0.48x bid/offer ratio at the end of trading. We suspect that investors are not done taking profit, however, we expect the price of MTNN to continue to trade at a premium to its listing price. The stock has gained 55% since listing on Thursday, 16th May, 2019.

Reporting for EasyKobo on Friday , 24 May 2019 in Lagos, Nigeria

Source: Vetiva Capital Management Limited