Same thinking here, SKT in or out of Index doesn't really matter under current market dynamics at play
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Imagine if SKT was removed and cannasouth was added into NZX50. What a joke that would be.
Stock has been in the dumps for a while. Most funds would be underweight in this already. The $159m placement would have wiped most of them out. Any overhang would likely be absorbed. Just look at the price action today, most other companies in the red, Sky trading in the green. With such a small market cap it wouldn't take much to move it either way. If it does get dropped from the NZX50, which I hope it does, it would very much be a catalyst for a takeover. The company doing the takeover would make sure to highlight that in any proposal.
Anyway, it's likely the re-balance is delayed because of Covid. Lots of companies are reporting late this earning season.
Who else is getting spammed with ads for Disney's new film Mulan?
https://www.youtube.com/watch?v=KK8FHdFluOQ
$50 to watch this as you need premier and Disney+ subscription!
Disney+ is cheap bro!...
https://i.pinimg.com/originals/6a/45...a7ca283d48.jpg
Possibly some merit to this comment.
To me it does look very odd to go from the role of CFO to a consultant ("strategic" or not). Especially after being in the CFO role for a relatively short period of time.
I am sure Blair is capable enough, but he certainly never 'wowed' me on the occassions I met him.
The first being where I met him at Head Office and ended up educating him with the lovely diagram that winner69 thinks is awesome. I also went to great lengths in that meeting (and subsequent emails) to explain to him that I am a long-term investor, not a stock trader or speculator etc.
Fast forward to the last AGM. I catch up with Blair again (he was kind enough to introduce me to Martin - MS and I had a good chat, he then included the new Chairman in the conversation. Overall a positive experience for me).
Anyway, before I got to chatting with MS...Blair starts talking to me about the recent SP movement. Recall that when it was announced that Spark won the domestic cricket the SP fell from $1.10 to 85c. Later, when it was confirmed that Sky retained the rugby the SP bounced back to $1.10 (it would ultimately fall again...and keep falling...).
So during the chat I confirmed that I snapped up a fair few shares at 85c. He gives me this big beaming smile and starts going on about what a "nice little gain you got there" when it bounced back to $1.10 (it was still ~$1.10 at the time of the AGM).
I just looked at him somewhat horrified. First of all...as I had told Blair on many occassions - I don't give a tinkers toss about short-term SP movements. Like, I literally don't care.
Second, even with the "nice little gain" at that time of the recent shares I bought, I was still down overall. So it was a dumb f&ck thing to say.
So yeah, as I say - he is bright enough I suppose - but def not amazing.
Christ you are really gonna rip into a guy for saying nice gains? I'm assuming it was an off the cuff comment, and either way who cares. Wow.
Sky up 0.7% today
Check out dem gains!