Feltex (FTX) - All over for shareholders

[limegreen]

Forsyth Barr is not the only broker pushing FTX, and valuing it around $2. However, the cynic in me wonders whether having promoted the issue to their clients, the brokers are engaging in a bit of ramping of their own.

Of course, as a holder, I know that to be complete bollocks, and feel that $2 severely undervalues the company.[8D][8D][8D][8D][8D][8D]

[Dubdee]

Note that John Kokic, FTX COO bought a line of shares today.

[Dazza]

a newbies hypothesis here:
i brought ftx since teh IPO at the 1.70 mark just 1k shares *big mistake since 1.62 idiot ppl who work at ftx would rather have the cash than the shares*

hense prob why the disappointing IPO... yet afta awhile it went back over 1.70 for a short time, be4 plummeting to its level now the 1.55-7 mark.

so since its IPO to the date now its been down 10%...

the stock like their CEO's say is good balance sheet is good etc etc, howeva the market and the traders have written this stock off.

the main reason i see it is, with the current market as it is, the money we invest in this company, can easily be invested into other companiese where actual growth profits can be made!

eg - FBU, FPH, NOG just to name a few.

i guess the plain and simple reason is that money can be made elsewhere instead of bogged down in this company..

im contemplating of selling all my shares , to take the ~10% loss, cut my losses, and invest in NOG or OC's...

i did that with my WHS shares and its done superb... so why not with FTX... or if NOG is a risk.. maybe even try TPW for the short term..

your thoughts ppl?

[PLK]

i bought pacific brand in its IPO
i was so sure it is a good company
but price drop under IPO price, i had the same feeling you have right now
but as long as it is a profitable and growing company, soon or later market will set it to the right price

well i bought it at 1.57. so i guess its easier for me to say that ^_^""

[limegreen]

Assuming they maintain their dividends as planned, I think an established yield should give them a good upside, especially if interest rates start to decline next year.

[Snow Leopard]

We keep pointing out what a bargin this share is at this price, yet the price stays down.
I know of nothing in the future that is really detrimental to this company. They are not as dependent upon the new house market as most, refurishing and commercial is looking good here and in OZ, which is their major market. The NZ$/AU$ cross will go in their favour in the mid term surely.

Divvy over 10% gross (yes, that is without full imputation credits) P/E less than 10.

Come on buy while they are on special
Disc: Hold for the long term, may have more by the end of the day.

[limegreen]

I wonder if perhaps the more yield conscious investors will wait until the see the yield as consistent and strong. I'd guess investors most interested in divis are probably more conservative, so will wait a bit before buying in, leaving the good buying to us.

Disc: FTX, rose-tinted glasses

[Snow Leopard]

Some astute investor [not me] put in an order at the end of day to lift FTX to 158 at close, a 3c/1.94% gain on the day
Hopefully this is because everyone is beginning to realise what a wonderful bargin it is and we are seeing the start of an uptrend.

If I am right, which would be a first on this one, you can say what a prophet I am.
If I am wrong, please don't bring the subject up again.

Disc: Bought at 158, two pages ago and have the divvy as prophet [8D]

[limegreen]

I can't tell if it was your "astute investor", but yesterday was also the heaviest buying in 2 months, with around a million shares changing hands, so it might really be the beginning of a change.

Disc: Also bought just pre-dividend; wanted to buy at 1.58, but had to wait for pay : (

[Dubdee]

I think buying interest is FX related. Note OZ cross rate has declined at same timing buying has started. The market believes that FTX is sensitive to movements on the OZ cross rate. This only effects their wool carpet sales in OZ, so its not as big a deal as many think, but positive all the same