EFFECT OF RAMADAN ON OMAG STOCK PRICE
posted on
Jul 18, 2013 01:18PM
Multi-Billion Dollar Agreement Signed With Oman
Now that Ramadan is upon us (from sundown, (July9 to sundown, August7), I was curious and concerned as to its historical effect on OMAG's stock price. So I did some research and compiled a table of some of the pertinent dates and prices for the past 3 years. Unfortunately, what had been presented as a conventional 7 column table ended up as a garbled monstrosity. Instead of dates and prices appearing under properly spaced columns, everything was run together without regard to spacing. Those of you who are adventurous enough, and have the time, can try to figure it out. No prizes will be awarded to the winner(s). See comments below.
R A M A D A N
2010 2011 2012
8/11 --9/9 8/1 - 8/29 7/20 - 8/18
PRICE DATE - PRICE DATE- PRICE DATE - PRICE
Prev. Close 8/11 1.50 8/1 4.55 7/20 1.63
Open 8/12 1.55 8/2 4.50 7/23 1.60
High 8/20 1.95 8/24 4.85 7/20 1.63
Low 8/8 1.40 8/8 4.05 8/6 1.35
Close 9/9 1.50 8?29 4.40 8/17 1.59
Close- 1 week
later 9/17 1.30 9/5 4.15 8/24 1.57
Close - 30 days
later 10/8 1.60 9/27 4.00 9.18 2.99
Surprisingly, I found no material change in opening and closing prices for each Ramadan period.. There was a mid-period 30% rise in2010.The stock then drifted lower until May 13, 2011 when it started a climb to 4.85 on August 24. There must have been a lot of enthusiasm for the stock at that time. It then began its descent and pretty much hit a plateau roughly between 1.50 and 1.75 until the 2012 Ramadan. There, the stock ended where it began with a 15% mid -period decline.
That's all folks!!!