If I had a dollar for everytime someone made a price prediction that proved false...
...I would have several dollars.
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Well someone should have a crack. If it went into the 40s again the trucks would clog the motorways all reversing their way up the road. At 2 bucks everyone would be buying because 3 or a takeover is eminent. I like it under a dollar as a long term buy.
It's human nature when an SP drops, and in the case of OCA quite a bit, that the thinking is that the SP is going to tank even more to some incredibly low price and then the fear sets in. I just can't see anyone in their right mind selling OCA at 40cents and even up to 80 cents. Anyone in that category are the big losers in the Stock Market game. After all we are talking about a well run, profitable company in a industry with pent up demand, paying dividends and inflation proof for the future.
OCA at 95c, a 28% discount to NTA seems well undervalued
Bear in mind that during and after the Covid crash, roughly 130 million shares changed hands at or under 80 cents, so there's plenty of stock out there that is still well into profit for those buyers at the time. If things get worse, they're not a big loser if they sell to retain those profits.
Sobering reality check for the overheated property market - South Auckland house sold at open auction for 40% below CV. :eek2:
https://www.oneroof.co.nz/news/south...below-cv-41695
Only eight bidders were in the auction room at Ray White Manukau’s offices on Wednesday, mostly to watch. not to buy. Of the six properties on the slate that afternoon, one sold under the hammer, another sold during a pause in proceedings and a third had been picked up the night before after the vendor accepted a pre-auction offer.
The brisque and business-like atmosphere was a far cry from the excitement and desperation seen in the same room the year before, when crowds spilled out into the hallway and properties sold for big sums.
Ray White Manukau’s weekly auctions are viewed by many as a bellwether of the wider market mood in South Auckland. The sale prices achieved on Wednesday indicate the market has well and truly changed and the heat of last year has cooled.
A three-bedroom deceased estate in tidy, original condition on Antsy Place, Mangere sold under the hammer for $740,000, 40% less than its $1.225m ratings valuation, despite five bidders competing. A three-bedroom house in Belleek Close, Weymouth, sold for an undisclosed sum after bidding paused at $715,000. It had a CV of $900,000.