By the end of May 2021, more than 700,000 users will have access to 5G connectivity, up 12.9 percent from the previous month, according to GLO’s latest statistics. In addition, 5G users have grown by an average of 11.8 percent m/m during the last two months. Globe intends to extend its 5G coverage in the Visayas and Mindanao regions. 5G coverage is now available in 88 percent of the National Capital Region, 81 percent of Cebu City, 68 percent of Boracay Island, 67 percent of Bacolod City, 53 percent of Iloilo City, 73 percent of Davao City, and 72 percent of Cagayan De Oro City, according to the telecommunications company. In General Santos, the company is setting up six more 5G cell towers.
GLO’s continued investment in the 5G network is regarded as advantageous to the business since it would enable it to offer greater services to its consumers. It also puts the business in a strong position, since the number of customers utilizing 5G-compatible devices in the Philippines is expected to continue to rise in the future. GLO has a price-to-earnings ratio of 13.49x as of July 2, 2021, which is lower than the 14.42x average from 2016 to 2020. Meanwhile, its price-to-book ratio was 3.26x, which was lower than the 3.44x average from 2016 to 2020. These findings suggest that GLO is presently undervalued in terms of marketability.
GLO has a first support zone between 1,750 and 1,800 chart wise. Initial resistance, on the other hand, may be seen between 1,940 and 2,000. The stock is presently trading sideways, but its 14-day relative strength index is rising, indicating a positive divergence. Its MACD is also rising above the signal line, indicating that bullish momentum is building.
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