As discussed in my earlier submit on Headwinds for Mapletree Business Accept as true with (MIT):
This information has now been introduced with MIT’s third Greatest Tenant Cyxtera Applied sciences getting into the Bankruptcy 11 Bankrupcy procedure
Cyxtera has contributed 3.2% of gross condominium source of revenue for MIT as at 31 March 2023. Whilst blue chip MIT boasts of a well-diversified tenant base, this detrimental information would inadvertently be a drag to its percentage worth
With costs last in to momentary Oct22 lows of $2.13 and long-term Covid Mar20 lows of $2.10, with a bit of luck those worth helps would cling the dealers at bay.
Bearish pattern continues with the red weekly MA50 sloping downwards or even appearing as a resistance level in Apr23.
Different affected reits integrated Virtual Core and Keppel DC, all striking up courageous fronts to assuage shareholder sentiments.