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I think a lot of the movement (down 20% then back up the same 20%), is just movement on low volume. Not many buyers and not many sellers so it's easy to push the price around.
Also, that "back door ramp" that Drew95 posted was actually a couple of weeks old (dated 16/4) by the time it showed up here (on 29/4). I don't think it contained any new information, just gathered it all together. Roughly agrees with how I see the company: risky but good potential.
Does anyone know when FY results are announced? I guess it's May sometime but can't find a date.
Could be a few disappointed punters who missed the memo that PLX was starting to spend again and there is probably going to be no profit, especially after factoring in the convertible note.
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I think we all acknowledge that PLX is a risky share (what share isn't to some degree?) PLX still has a lot to prove to the market.
PLX got a great boost with the McD buy-in at around 39c and this SP represents a 'base' which the SP has now moved ahead of. IMHO the risk remains until we get a firm update which gives us a firm indication of just what the McD investment means in terms of revenue and profitability for PLX.
With any 'risky' share my recommendations are;
- Place it on yr watch-list and receive emailed updates from the company directly into your in box
- Then buy in only on good news from the company (conversely if you already own some, be prepared to sell-down in the case of bad news)
- Be prepared average up or average down as the SP fluctuates and depending on your confidence on the company's longer term performance
- Try and keep your average holding SP at (say) a 30 to 40% discount below the current SP to give you some risk protection.
Disc. My PLX parcel buy-in prices have been; .21 (v risky based solely on improving profitability, new management and favourable TA) ; then 36.5 and 41.5c (on the day the McD deal was announced) and more recently at .52c. My current average holding SP is 39c which is approx 35% below today's SP.
So like many, I'm awaiting the next PLX market update with interest!
As always DYOR and always take sole responsibility for your own decisions.
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I'm happy with the current SP at around .50c pending an update by the company.
This report puts a target SP at .90c. So you could argue there is upside potential from the current SP, with downside risk at the MacD's buy in level of 40c.
Only when I see the next company market update (now due 21 May) will I be able to estimate a future target SP.
Pretty amazing though if not much new
110 million users is a lot of people
http://nzx-prod-s7fsd7f98s.s3-websit...792/300165.pdf
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