Good that more black crosses than golden crosses results in an upward movement in share price over the last month.
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1 year share price performance on NZX (not including any dilution etc)
MET -28.7%
SUM -26.63%
OCA -4.5%
RYM +7.8%
ARV +9.88%
Kudos to TJ and fellows.
Today:
SUM $5.70
RYM $13.37
Wasn't there once a neat little "rule" that had SUM at 50% of RYM's shareprice?
;)
Yea, but IMO there appears to be hot money chasing the top end of the NZX listings. RYM falls into that group, SUM is a bit smaller doesn't have a multi-billion market cap. This is assisting SUM to testing the lower end of this rule. Poor sales by SUM aren't helping.
Property prices fall but Sales increase...........July
http://www.sharechat.co.nz/article/a...ing-again.html
Auckland's housing market no longer flatlining as new data shows prices are actually falling....................
https://www.nzherald.co.nz/business/...ectid=12256048
Property valuations are all based upon previous comparative sales value.
Very nice on the way up for the sales people ('Buy as prices are going up and you will miss out' to the buyers) but extremely painful for the house owners on the way down ('Real market is going down, you better sell quick' to the sellers).
So it's going to be down for another 4 years imo.
Some big numbers going through SUM today. Things must be gearing up as this month we find out how they are performing.
Now growing as slow as that other dog starting with A... shows you how lofty the valuation was nearly touching $8 odd... operating cash flows barely up, and Available new sales uncontracted stock at the highest point in 5 years - not a good metric to be at the highest point in 5 years (and that is despite pulling back big time on new builds)... gearing ratio up as well (at a record level?)
Alot of negatives on slide 4