One Reason The Egyptian ETF May Be Surging Right Now

As they just noted on CNBC, the Egypt ETF EGPT is surging (up over 6%) despite the actual Egyptian market being closed.

How come? Well, obviously folks are eager to take a speculative flier on this one, and if you can envision a scenario that doesn’t involve the economy getting totally wrecked, then stocks are cheap.

We posted earlier this look at the price-to-book chart of Egyptian stocks.


Photo: Citigroup

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