Why MASTERSKILL or MEGB hits year low?

MEGB shares price had been going down steadily from last month onward. As shown in the graph it was down from high of RM2.00 to current level of RM1.32.

In fact the stock has been continuously going down since listed in May 2010, with IPO of RM3.80.

Currently it was slightly above 52 weeks low of RM1.31, which was hit on monday.

There are several reasons why the counter was hit hard:

- weak second quarter result
- poor student intake, one of the reason is in early 2011, the Malaysian Nursing Board increased the entry requirements for nursing course from three credits to five credits, which affected student intake slightly lower in the first quarter of 2011
- several research houses downgraded the stock

May buy in if the stock fell below RM1.00.