Did Pacquiao decision boost GMA 7's stock prices?

MANILA, Philippines - It’s a draw. Or at least that’s according to analysts interviewed by GMANews.TV regarding its parent company’s share price hike during Monday’s trading at the Philippine Stock Exchange (PSE). This was two days after Filipino boxing champion Manny Pacquiao decided to honor his contract with Solar Entertainment, thereby allowing GMA Network Inc. to air his fight and earn from advertising. On Monday, GMA Network Inc.’s stock price rose three percent to P3.80 from Friday’s price of P3.70, a rise that was perhaps fueled by Pacquiao’s decision to comply with his contract. “Interest in GMA 7 picked up probably because of the reinstatement of a valid contract between Pacquiao and Solar and GMA 7," Justino Calaycay Jr., Accord Capital Equities trader, said. “I think [Pacquiao’s decision] was part of it," he added. But at the same time, the analyst clarified that stock price valuations are “really cheap overall." Calaycay noted that any Pacquiao bout is always loaded with advertisements, which in turn, bring revenues for the television network. But Paul Balaoing, PCCI Securities analyst, disagrees. Technical analysis of GMA 7 share’s chart indicated that it was on the upswing, he said. “It is consolidating between P3 and P3.60," he said. “I don't think Pacquiao had something to do with it, because if that were the case, then the stock should have been in the most actively traded during the session." GMANews.TV is GMA Network Inc.’s news website. It is owned and operated by Media Merge Corp., a company fully-owned by GMA Network Inc. - GMANews.TV