True but someone also bought them.
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Absolutely right waikare. I started buying in back then. Went in boots and all in Dec 2012 at 51c. But like some others, sold out last year when I believed it was becoming too hyped up. Mistake was to sell all my holding. Should have sold only part of it as ATM had become nearly 40% of my NZX portfolio and was keeping me awake. But exited at a very very good profit and very happy. Great company with a great product.
Lesson: take some profits when you feel like it but never sell 100% of your good performers like I did with ATM. We live and learn
The other lesson I take from such success is the value of having 'patient money' and 'investing for the long term'. IMHO such a strategy beats the hell out of short term trading and continually trying to pick the 'high' and 'low' entry/exit points. (Not to mention the tax benefits of not having to pay tax on your capital gains.)
Waikare and other long term holders now 'nicely positioned' should ATM begin paying dividends. Well done!
Disc; I've held ATM since July 2014. My current av holding price is 98c.
Given its SP went up and down in the past... it was hard not to sell the lot when the SP rises quite a lot. I have done both... Held on and sold then bought back in. Both worked well for me. In hind sight is easy to see/draw conclusion but have to decide to hold or to let go isn't so easy.
If only we could all invest with 20/20 hind sight... I got out Friday. Current price seems a little nutty.
Thanks guys.
Market is always forward looking. Not sure why some people think this is overhyped when the FY18 multiple is very reasonable considering the growth rate. Technically this looks very strong. Letting my profits run until such time, (if ever), it breeches the 100 day MA to the downside. Food for thought. Why has the volume been so strong on a rising SP to fresh all time high's ? Obviously lots of others see tremendous ongoing growth potential...