Megaworld REIT [MREIT 22.15 0.23%] is not teaming up with a real estate group to invest in residential and retail properties in the Metaverse. A recent press release from a Canadian firm, Metaverse Real Estate Investment Trust, likely triggered a lot of Google Alerts and other media monitoring tools with news of investments in virtual real estate. MREIT (our MREIT) is buying, but only tangible stuff.
MerryMart [MM 1.88 6.93%] has lost nearly 28% of its value over the past month. It peaked at P2.60/share just before New Year’s and closed yesterday at P1.88/share. While alarming, it’s really just a continuation of the absolute faceplant that MM has suffered over the past year. The share price was P7.69 on January 8, 2021. It’s down 76% since then. The IPO price was just P1.00/share, so IPO investors are still ok, but at this pace, even IPO buyers will be in danger of holding losing positions by March or April.
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