GLP

GLP: is down 4.8% at $1.99, the STI's second-worst performer by percentage. CIMB doesn't see any company-related reasons, says today is basically a "macro selloff". Notes the stock has done quite well over the past few days after reporting its results last week and it's now retracing its gains. Says the stock isn't considered defensive despite the company announcing its maiden dividend, which wasn't meaningful. Adds the co mentioned they won't be morphed into a dividend play since most of their assets are in the growth stage. The house has an Outperform call on the stock with TP $2.40. The May trough at $1.92 may offer near-term support.