James Go keeps buying PLDT shares
JG Summit Holdings Inc. chairman James Go is stocking up on shares of PLDT Inc. to take advantage of falling prices.
According to recent filings with the Philippine Stock Exchange, Go, a director of PLDT, now owns a total of 240,209 direct and indirect shares in the telecommunications giant.
Go, brother of bilyonaryo John Gokongwei, views downturns as a chance to buy cheap stocks at even lower prices.
Just last December, Go purchased 15,795 PLDT shares (10,000 shares at P1,144.40 on Dec. 11 and another 5,795 at P1,125 apiece on Dec. 28).
He began loading up on PLDT shares in the last quarter of 2018.
PLDT closed P8 lower today at P1,140 each share. The stock plunged to its historic low last year due to lower earnings and the impending entry of a third telco player and its dispute with the Department of Labor regarding the regularization of over 7,000 workers.