if only this were in my portfolio…
pt adaro minerals indonesia is the world's best performing stock this year, up over 1,100% as of writing
the stock is #1 in the bloomberg world index (which includes over 2,800 tickers)
that's way higher than #2 on the list – turkish airlines (up ~560% ytd)
what happened?
adaro's shares debuted in early january this year in jakarta and soon rose more than 2,800% in just over three months
the stock's general movements have been closely tied to global coal prices, up near 106%
fair fundamentals
adaro's net profit rose ~480% in the first three quarters of the year, mainly due to much higher average selling price and increased coal sales volume
price-to-book ratio is currently at around 9.4 which is its lowest since listing per bloomberg
the ratio is almost six times higher than its comparables (i.e. pt bukit asam, shanxi coking coal energy)
could this have more upside next year?
💡 something im thinking about
open ai projects that chat gpt will generate $1b in revenue by 2024 (click image)
that's all, folks 🐒
