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Tuas (ASX:TUA) share price surges again, up almost 30% this week. Here’s why

Tuas just keeps shooting higher…
The post Tuas (ASX:TUA) share price surges again, up almost 30% this week. Here’s why appeared first on The Motley Fool Australia. –

The Tuas Ltd (ASX: TUA) share price has had another rocket of a day on the ASX so far this Wednesday.

Tuas shares ended today’s trading at $1.98 a share, up an extraordinary 14.45%. Put that together with the 5.5% the company added on Monday, and the 8.5% gain we saw yesterday, and Tuas shares are now up an incredible 28.45% just this week so far.

So why are Tuas shares giving investors such a blazing run of success?

Tuas shares rise on new spectrum

Well, these gains can likely be put down to the announcement this old flame of TPG Telecom Ltd (ASX: TPG) made on Monday morning.

As we reported at the time, Tuas announced on Monday that its Singaporean subsidiary TPG Singapore, was successful in a bid for 2.1 GHz spectrum that was recently conducted by Singaporean authorities. TPG Singapore was provisionally awarded 10 MHz of spectrum in the 2.1 GHz band. It will pay $31.72 million for this spectrum, which was awarded with a 15-year license. With this deal, TPG Singapore will now use this spectrum to roll out its standalone 5G network in the country.

This was the news that so excited investors on Monday, and continues to today. That’s going off of the moves we have seen in the Tuas share price.

But we could also be seeing the impacts of some recent bullish commentary for Tuas shares as well. As my Fool colleague Brendon reported last week, Tobias Yao, portfolio manager over at Wilson Asset Management, was recently and publically very bullish on Tuas shares. We quoted him as stating the following on the company:

It’s a buy for us. David Teoh is one of the most astute and successful businessmen around, having founded TPG Telecom… The reason we like TPG Singapore is the fact that we think the value offering is very, very attractive.

At the current Tuas share price, this company has a market capitalisation of $922.7 million. Tuas shares are now up more than 170% year to date in 2021 so far.

The post Tuas (ASX:TUA) share price surges again, up almost 30% this week. Here’s why appeared first on The Motley Fool Australia.

Should you invest $1,000 in Tuas right now?

Before you consider Tuas, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tuas wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why Bellevue Gold, South32, Starpharma, and Tuas shares are pushing higher

Tuas (ASX:TUA) share price jumps 5% on acquisition news

Experts say Tuas (ASX:TUA) share price is a buy even after its 50% surge

2 unfashionable ASX shares for rough times: expert

Is the TPG (ASX:TPG) share price an opportunity calling?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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