That's a hell of a lot of shares to be holding if there's no value in them!
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Happy to buy today, below the VWAP of .386
This was a bit of a deja vue of the crazy day last week where .40 was the bottom---never a dull moment..
Once again while 'pot shots' continue to fly on here, and retail investors continue to panic, the people that understand the game are topping up their holding... smart but not surprising move for a professional to capitalize on retail stupidity.
I think institutions now hold quite a substantial percentage of ownership now...
Looking forward to results day and seeing the share price most likely 'skyrocket' once the retail panickers finish panicking!
And after this happening so many times... share price finishes just below what it opened at... 40c.. just the usual share trading day for PEB, drop dramatically for no reason, then rise almost just as fast to finish the same, or near the opening price.
Disclosure: watching with great interest, if I had the cash I would have gotten in at anything below 40c
Hmm - I see that NZFC did top up - and they might have had plenty of reasons for that (one being to just support the paper value of their huge existing holding in order to keep their clients happy - nobody wants to see huge losses in their investment funds). If they wouldn't have bought, who knows, where PEB might be now - certainly well below 40 cents).
Not sure, whether I agree with the conclusion that the share must be cheap just because a fund manager is buying. Sometimes they get it right, and sometimes they get it wrong - and sometimes they get it spectacularly wrong.
Particularly considering that NZFC was the underwriter for the recent capital rising (was it really a great decision from them to underwrite shares at 60 cents, they can now buy for less than 40 cents?), am I not sure whether we can consider their judgement as impeccable. Maybe they are now just making another classical mistake and averaging down into a downtrending stock?
There is as well this saying about catching falling knives ... maybe it demonstrates balls to do that, but on the other hand - personally I value my fingers as well and try to avoid losing them ...
TJ - if you risk your own fingers, than good luck to you ... but are you sure you should try to talk others into this game?
Question: based on your posts it sounds like you think PEB reached rock bottom (otherwise why recommending to buy)? Why would you think that?
It may be a good thing you dont have the cash TJ--We are getting lower highs and lower lows atm. and as far as i can see the absolute best case scenario would be an increase in Sales of 19% (if no free tests were processed for KP)
We know thats not going to be the case -so its a matter of how much lower sales will be.
We need much higher multiples for the SP to ''skyrocket''