Hotel chain Orbis checks its four month rise in the Warsaw Stock Exchange

Friday's 2.27% drop marked a halt in a four month campaign that began in June. "The recent bullish market also covered Orbis. Currently the price is dropping as investors are cashing-in on their investments. Fluctuations are not the result of any occurrences related to company's operations, but general tendencies on the capital market," said Artur Szeski, an analyst with CDM Pekao. In his opinion, investments by Orbis in economy-class hotels will most likely bring about profits, but no sooner than in 2007-2008. The firm's situation has been boosted by restructuring of the group, modernization of hotels and reduction in top-level management. "Despite that I believe that current price of Orbis shares is too high. I do not see a justification for this situation," said Szeski. The company could also be removed from the WIG-20 index, a move that would dent its stock value further. (Parkiet, p. 2) M.M.