Food

Buy or sell? 2 Jollibee affiliates diverge as shares pierce P200 level for first time in 11 months

Two affiliates of Jollibee Foods have contrasting investment strategies after the fast food giant’s shares breached the P200 mark for the first time in 11 months.

Honeyworth Corp. ashed in on Jollibee’s surge as it raised roughly P10.2 million cashed in after disposing 50,000 shares at P200 to P204.60 on December 3.

On the same day, another Jollibee affiliate, Hyper Dynamic, was buying more shares of the company.

Hyper bought a total of 32,000 shares at P202.20 to P204.40 on December 3.

Honeyworth has taken advantage of the rebound in Jollibee’s share price (which bottomed out at P88.50 in Match 2020) to unload.

The company has slashed its shares by 15 percent or 6.315 million shares to 34.039 million shares or 3.1 percent stake as of December from 403.354 million shares or 3.68 percent at the start of 2020.

Hyper’s stake has inched up by 1.91 million shares to 275.128 million shares or 24.8 percent of the company over the last 11 months.

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