Thai Airways has made Thai stocks great again.

I’m only half joking, but after the technical double bottom in the markets, the SET has woken up and is one of the best performing equity markets over the past 6 weeks, in…the….world!

Thai airway’s is a simple story…no debt on the b/s, growth story, there’s a long leadway until management cockups hurt the #s (maybe 2-3 years away), and the last time the company recapped and relisted, it went up 3-4x. No real float, no selling pressure for 12 months, potentially may be added to the indices, i.e. SET100 and SET50. But let’s see how far this goes, retail needs to continue going nuts and then the machines can drive it.

Earning’s season is done…and that seems to be marked the top of the market’s run in the ST as now every “analyst” and “investor” has to downgrade their FY25 targets, what a surprise and now the market is being sold off a bit…now let’s see how politics impact the market over the next 4 weeks.