Originally Posted by
Snoopy
Perhaps worryingly, given how long these convention centre negotiations are going on, I believe the difference in share price today between 'Convention Centre Yay' and 'Convention Centre Nay' is about 80c per share.
Put another way, if the convention centre is approved, the SKC share price I think would break the $4 barrier. If turned down then I believe something like $3.20 would be closer to fair value.
Usually a share price drop from $3.80 to $3.20 on a quality share like SKC would attract my interest. In this case though I believe such a share price fall in the 'Convention Centre Nay' scenario would probably be justified. Such is the dependence of SKC on the ongoing development of that Auckland site.