Gloves fans cursed JPM and accused them of wanting to buy cheap when they downgraded glove stocks a few years ago. It turned out t̶h̶e̶y̶ ̶w̶e̶r̶e̶ JPM was the only one telling the truth, while every other investment banks fooled retail investors into buying, even though tons of facts and evidences highly suggested that the gloves euphoria was over.

I agree. How can a construction company like suncon be trading at PE30 or 40? The local maket big cap is mostly pushed by EPF, PNB and other govt funds and can be highly operated. Of course the local traders and banks followed suit also. I feel it is much harder sometimes to trade on the local market than the US market.

Adama, not really … The 7-8 local research houses kept giving higher n higher TP to Topglove n other 3 glove manufacturers was about 2020 June to December while Topglove share prices skyrocketed to all time high . Truth that local research houses got high intention to make Topglove n other glove counters to go to as high as possible, bad intentions indeed .. But for JP Morgan to give very negative reviews low TP should be after 2021 Aug or Nov, maybe is beginning of 2022.. That time Topglove share prices already dropped to Rm3.50-4.50, after JP Morgan few very low TP, Topglove share prices dropped below 2.00 then 1.50 then broke 80 cents …. Lack of a mechanism in Bursa that can earn those research houses simply giving very high TP …Many retail investors just simply goreng type.