In a recent interview with İbrahim Erdemoğlu, the Head of the board for SASA’s parent company, it was stated by Erdemoğlu that he had no idea why people were putting so much trust and money into SASA. As an executive even he thought that the brand was overvalued in the stock market.

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SASA Polyester is one of the stocks garnering the attention of retail investors in Turkey. It had spiked up to high prices within recent months and has been compared to game stop. Some Turkish traders think of SASA as the Turkish version of the GME incident.

Recently, an interview conducted by the newspaper Nasıl Bir Ekonomi, Erdemoğlu stated the risks involved with SASA. As an executive of the company he had no idea why traders were investing into his company. He stated that there weren’t any major announcements or actions warranting investor attention yet there is a huge influx of investments coming in from retail investors. Erdemoğlu also showed his concerns for the retail investors involved in the SASA bubble. “SASA is overvalued” he stated in his interview. The stock which was trading at 60 Turkish liras had sky rocketted to 180 liras. Erdemoğlu said that he anticipates profit decreases in the continuing quarters which may result in the steep fall of SASA stocks. This made him worry about the retails investors who were deeply invested in SASA.

Erdemoğlu also made claims that the Board has attempted to soften the damage to retail investors by mass selling the stock when it was at 80 liras yet this was a useless endevour. In recent days SASA has been falling slowly which could indicate the start of the downwards trend for SASA. SASA’s value certainly contains a lot of risk within it for late investors as it is absurdly overvalued. Therefore, we advise traders to be careful of SASA before trading it.

Sources: The Cumhuriyet Newspaper