Will PLDT Inc. (PHI) Short Squeeze Soon?

April 19, 2018 - By Clifton Ray


The stock of PLDT Inc. (NYSE:PHI) hit a new 52-week low and has $24.01 target or 8.00 % below today’s $26.10 share price. The 7 months bearish chart indicates high risk for the $5.64B company. The 1-year low was reported on Apr, 19 by Barchart.com. If the $24.01 price target is reached, the company will be worth $451.12 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 3.05% or $0.82 during the last trading session, reaching $26.1. About 62,947 shares traded. PLDT Inc. (NYSE:PHI) has declined 14.45% since April 19, 2017 and is downtrending. It has underperformed by 26.00% the S&P500.

PLDT Inc. provides telecommunications services in the Philippines. The company has market cap of $5.64 billion. The company's Wireless segment offers cellular mobile, Internet broadband distribution, activities support services, mobile applications and digital platforms development, mobile payment, solutions and systems integration, satellite communications, and satellite information and messaging services. It has a 22.01 P/E ratio. This segment also sells WiFi access equipment; develops financial technology solutions; offers insurance products; and operates as a content provider.

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