Small consolation Sophie is down 7% on her 83000 shares purchased 31 August, but what’s $10.5k paper loss to her?
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Small consolation Sophie is down 7% on her 83000 shares purchased 31 August, but what’s $10.5k paper loss to her?
At this rate we'll be back at 1.59, a.k.a the dead-in-the-water 15.9c that for month after month SKY investors got used to seeing on their screens through bloodshot eyes. Back then Sophie said SKY was seriously undervalued by the market. What now then? Without news the market assumes the worst - and given Sky's track record that is the right thing to do. It fills in the gaps and with the only "news" being that the Chairman has done a runner who can blame investors for selling down.
The antidote to market jitters is to start making announcements on....anything. Property sale is the biggie. The funds (if returned to shareholders) will provoke an instant revaluation. Just get a move on, otherwise all the good work with the share consolidation will come to nothing.
So much for the share consolidation making this a less traded share....
My complaint about Bowman ditching NZ and no announcement came back with the NZX saying there was no breach
Looks like a Lego set.
Just wondering if SKT is on trading halt. No announcement on NZX. No info on hotcopper either.
Edit: It back up now. 10.41am.
Thank you jimdog :t_up:
I've been lurking on this thread for a few months. Reading this has been a lot of fun and is part of the reason why I had joined this forum. Sky is my biggest pick in my portfolio.
It sucks that it is down but I don't think we should be demotivated by factors like the property sale which is bound to happen sooner or later. It's fair to expect that it's going to be a slower sell than smaller residential million dollar properties in the area. It's a pretty big piece of land with a big asking cost. It's all dependent on finding the match made in heaven. The longer it takes, in this market, isn't necessarily the worst either. There still seems to be a fair bit of steam in the growth of property prices which can't be a bad thing for us.
The sale of the property will be a nice extra but it isn't the sole reason why I am attracted to this stock. The way I see it, I believe it's still crazily undervalued. There's a healthy balance sheet. It's making us a profit which could then be used to give us a dividend in the future. It may take longer but it's not out of the picture. Realistically it will take a few years for Sky to get the valuation it deserves but the wait will be worth it. I'm looking at how they can maintain profits sustainably, how many users will be on the broadband network, and them getting more people to join up Sky in one form or another. Based on those metrics, things look on the up.
Don't lose hope.