That would take us back to $30. Maybe BlackPeter's caution was wise.
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Might not be liking biden's vaccine mandate..
Yep, for a "growth" stock, that is depressing. What is also depressing is Management seem unresponsive to shareholders. They've made extraordinary profits over the course of the pandemic but no special dividend, no buybacks and very little info on future earnings or growth. I realise the SP moves at the whim of the instos and good times may come round again, but the lack of SP support is unusual for what should be a defensive stock. :confused:
Plus FPH has always had a high PE ratio.
3% OCR and the stock was still climbing.
Maybe the market thinks we'll have 6% interest rates but that's rather unlikely.
I think the market is in two minds about FPH because it reaped a huge covid reward and everyone is thinking... well, what now? Personally I think this is such a quality company that it will continue to power on from here. May take a bit of time for the market to wake up to that, but not too long I suspect.