OMG the share price has tumbled below 150 .....and I haven’t managed to quit all I had. That’ll teach me to hold out for higher prices.
How low can it go tj
i see the NZ Super Fund has some ....hmm
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OMG the share price has tumbled below 150 .....and I haven’t managed to quit all I had. That’ll teach me to hold out for higher prices.
How low can it go tj
i see the NZ Super Fund has some ....hmm
I was wondering when you were going to comment on the $1.50 "breach" - I just couldn't bring myself to do it, I was just that shocked (and it didn't help that OCA dropped to 94 cents yesterday either - can't believe that one is under $1).
Anyhow, I see it managed to just get to $1.50 today, after a sudden jump around 2pm - so I managed to 'compile' myself together to look at this thread again (I knew you'd be posting of course).
Kinda crazy to think if they got 90m- going off yesterday's close, they'd be in the 5 something price/earnings - kinda scary and very much unexplained that they hit a new near 7 year low despite no news (december 2010 I think was the last time the share price was under $1.50 - and FY2010 results were for $41m profit - now "worse case" this coming year is going to be more than twice that - funny how things change).
Hopefully someone will ask at the upcoming AGM why directors and management (except maybe Abercrombie, who already owns a quarter of the company) aren't loading up on shares at these seeminly unrealistically cheap shares. If they "confirm" profit guidance, and "believe" next year profits will start growing again, I can't see why FXL would be on a low 6 PE it is on today (and has been hanging around for a while). Market must be expecting a downgade - can be the only reason why this stupidly cheap stock is now even cheaper.
Not surprised the superfund have some, $94k I think (as at 30 June 2017), not sure when they brought them and certainly would not be surprising to see them buying more, not exactly much (they have $3.5m in OCA, again not much for the superfund...)
Bought some of these today. Your comments seem very negative and the price of the shares has dropped, but they are making plenty of money. With the PE the way it is the rational man would say the price has to go up.
Crazy the past 2 days, we are vergining on new 6 or 7 or 10 or 20 year decade lows (feels like that), with it getting lower and lower into the $1.40's, then out of nowhere and in just 2 days we are knocking on $1.60, what is going on? Rumours about the AGM suddenly reversed or something?
Still a couple dollars to cheap, but a dozen or so cents up is better than continually going south.
It seems strange that the price dropped as much as it did all the way back from Nov 2013. Just because profit was down a few % compare to last year when they are still making good profits.
They are making excellent profits - PE was in the 5's at one stage - one must remember that Mr Market looks towards the future, not the past... so Mr Market must not be to confident on the future...
Hard to believe FXL was on a 20 PE for a while and was a market darling, growth stock and all... imagine if we get back to those PE levels? stock could go up 400% odd.
Me oh my... $1.70... we have hit the highest point since late August, dare I say it, it looks like Mr Market is starting to believe the Flexigroup story again.
Then again at a PE still around 6, it is a far cry from the 20+ PE days just a few years ago... probably back to $1.50 next week
Dont jinx it :). it was this high in late nov, needs to push on to make a convincing trend imo.
At least being dismissed from the ASX200 hasn’t hurt the share price
The ignominy of that happening must hurt