On Jan 5, just when the glitzy CES was going on at Sin City, Creative’s shares surged more than 40% intra-day before closing at $1.76, up 24.82% Unfortunately, the trigger was no longer a new flagship product launch, but the shocking announcement by the company before the market opened that Sim had passed away the day before, leaving a void of the same magnitude suffered by Apple when Steve Jobs died.
For years, Creative Technology’s thinly traded shares would stir during the first week of the year. That’s when the global consumer technology event CES was held at Las Vegas, and the homegrown company, usually personally led by co-founder, chairman and CEO Sim Wong Hoo, would join the fray and showcase its latest gadgets — be it a high-end speaker set, or a nifty new headphone.
Long-suffering shareholders — of whom there were quite a few — would probably watch in bemusement as other punters drove up the price and volume for those few days before trading interest (and price) died down again.
