Did Pacquiao decision boost GMA 7s stock prices?
MANILA, Philippines – Its a draw. Or at least thats according to analysts interviewed by GMANews.TV regarding its parent companys share price hike during Mondays trading at the Philippine Stock Exchange (PSE). This was two days after Filipino boxing champion Manny Pacquiao decided to honor his contract with Solar Entertainment, thereby allowing GMA Network Inc. to air his fight and earn from advertising. On Monday, GMA Network Inc.s stock price rose three percent to P3.80 from Fridays price of P3.70, a rise that was perhaps fueled by Pacquiaos decision to comply with his contract. Interest in GMA 7 picked up probably because of the reinstatement of a valid contract between Pacquiao and Solar and GMA 7,” Justino Calaycay Jr., Accord Capital Equities trader, said. I think [Pacquiaos decision] was part of it,” he added. But at the same time, the analyst clarified that stock price valuations are really cheap overall.” Calaycay noted that any Pacquiao bout is always loaded with advertisemen
