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21-10-2013, 03:47 PM
#401
Junior Member
Interesting to see that MET and RYM are having good days on the market (up 15 and 16 currently), while SUM is down 4 currently. Possible hangover for SUM from the positive share reaction from last Fridays QPE's exit and retail investor cashing up on a quick gain from buying QPEs shares?
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21-10-2013, 04:48 PM
#402
Originally Posted by swillisam
Interesting to see that MET and RYM are having good days on the market (up 15 and 16 currently), while SUM is down 4 currently. Possible hangover for SUM from the positive share reaction from last Fridays QPE's exit and retail investor cashing up on a quick gain from buying QPEs shares?
Most likely, just a small term blip I would say. Will be breaking its current highs soon enough, needed this added liquidity.
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21-10-2013, 05:48 PM
#403
Originally Posted by turmeric
I imagine there are some who are taking quick profits after buying at $3.1 in the QPE selldown....
Interestingly SUM was down 1.3% but SNZ was up 1.5% on record volume, albeit a humble record of 200k shares traded. Kiwi's taking a quick profit, Aussie's buying up more ?
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30-10-2013, 04:55 PM
#404
It’s been another reasonable turnover day for SUM.
Does anyone know whom the seller may be that continues to trap the SP below $3.25 ?
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30-10-2013, 10:50 PM
#405
Member
Originally Posted by MAC
It’s been another reasonable turnover day for SUM.
Does anyone know whom the seller may be that continues to trap the SP below $3.25 ?
I would have thought that if it was one seller then there would have been SSH notices issued. The way the shares have traded over the last couple of months it certainly looks like one big fish drip-selling.
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31-10-2013, 10:19 AM
#406
Originally Posted by turmeric
I'm sure someone will correct me if I'm off the mark, but I would have thought quite a lot of selling is to be expected given it was less than 2 weeks ago that 50million shares got sold at $3.1. Selling in the $3.20-$3.25 range may only be a small % gain but times that by millions of shares and there's a decent amount of money that is being made in a very short space of time. I suspect large volumes will be traded for another week or so before we settle in again to normal trading and hopefully continued steady rises in the SP.
Very good thinking, I completely over looked that.
Sounds about right in my books, thanks Turmeric!
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31-10-2013, 10:33 AM
#407
Its made for a very boring couple of months on a stock where the numbers are looking awesome, management is doing great and everything is falling in line ... ... except the SP remains almost static.
Snooze.
DISC: HOLD
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31-10-2013, 10:39 AM
#408
Flat for six months now and due for a move, I think Tumeric is right, it may still take another few days to clear the quadrant overhang, up from there, also holding.
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01-11-2013, 09:05 AM
#409
NZX AND ASX RELEASE
1 NOVEMBER 2013
SUMMERSET TO COMMENCE CONSTRUCTION IN KARAKA
Summerset has announced a $70 million retirement village for the Counties-Manukau area of Karaka.
The retirement village operator has been granted resource consent for the initial phase of the village, which will comprise some 125 villas, townhouses, apartments and care apartments on a 3.6ha site at Hingaia Road, Karaka. It will also offer rest home and hospital-level care. The company has a further 1.2ha adjacent to the site which would allow for further expansion subject to resource consent.
Named Summerset at Karaka, it will be the leading retirement company’s 17th village. This will be Summerset’s third village in the Auckland region after villages in Manukau and Warkworth, with another two land sites at Ellerslie and Hobsonville.
Summerset CEO Norah Barlow said, “It’s a beautiful site that will maintain the characteristics that make Karaka special – the village will have a rural feel. It’s going to be a great village in a fantastic location. We’re very pleased to have the opportunity to build there.”
Summerset CFO Julian Cook says the Counties-Manukau area is going to see enormous growth in both the total population and the aging population in the future. “Our Karaka village will provide the people of that area with another high quality Summerset village after Manukau, with the full range of care and independent living options.”
ENDS
Julian Cook
Chief Financial Officer
julian.cook@summerset.co.nz
04 894 7310 or 029 894 7310
Kimberley Rothwell
Communications Advisor
kimberley.rothwell@summerset.co.nz
04 894 6993 or 027 601 2001
could be a bit of volume on this this morning
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01-11-2013, 09:13 AM
#410
I am assuming that we knew this was coming? I didn't but my research is abysmal. I can't see how it can be anything but positive.
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