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SR definitely has described this in detail already - this article describes it well, switch out Insurers for Aged Care Provider and Premiums for ORA's.
https://www.npr.org/sections/money/2...ns_the_ge.html
Well, yes. Only thing is - we only know afterwards whether the markets behaviour was irrational, or whether the market knew something we didn't.
I am still as well in the boat believing that they are undervalued, but I would prefer to know (vs believe) ... and the problem is that OCA's reporting is consistently best described with a four letter word which the censorship software turns into stars.
Which means - as a minimum do investors have to consider for OCA a higher risk factor than for other comparable companies who are more open and streight forward with their reporting. This (terrible reporting and board arrogance) might well be one of the reasons for the OCA share price being hold back.
Question for holders (like me) is now - do we expect this handbrake for the share price to be stuck forever ... or is there anythig we can do to undo it? Not sure whether the strategy to always just hope for the next reporting season being more transparent proved successful - well, so far it didn't.
Any bets that later today, or tomorrow, we will get an NZX announcement from OCA re settling the sale of two facilities? Wait and see.