Stock Breakdown: Sri Trang Agro

The maker of rubber gloves and sheets has seen a sudden change of fortune as the COVID-19 pandemic suddenly exponentially increased the demand for gloves. Demand for gloves in the last four months has led to super normal profits as the world capacity falls short of demand.

The market price for gloves has risen 3-5 times. 

A very timely listing of its subsidiary, Sri Trang Gloves, has increased the wealth of STA’s shareholders as the IPO has been extremely successful with the current share price of STGT at over 2x the public offering price.  

Demand for the gloves remains unabated as second wave of infections in the America and Europe, and perhaps a start of new cycle in Asia continues.

Many analysts have set a target price of over 100 baht per share for STGT. 

Recently, key shareholders of STA have sold their holdings in STA which has kept STA share price under pressure while STGT continues to rise. We feel that the disparity in performance between STA and STGT will increase further.  STGT has potential of rising further 25-30 per cent from current levels over the next 3-5 months. 

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