Originally Posted by
SparkyTheClown
Interesting the market has shrugged off the S&P negative watch so quickly.
Heartland dropped from 80c to 76c in two days, and has climbed back up to 80c over the following two days. It would seem the market doesn't take the S&P comments very seriously, or perhaps more accurately, has assessed the risk and believes S&P's comments to be overstated.
It may have simply triggered some nervous nellies into performing an act of IQ arbitrage with bolder and more confident investors.
Which means somewhere in Christchurch, Percy is quietly smoking on his pipe, feet on the ottoman and single malt slowly unwinding over ice, contemplating his good fortune at picking up more of Heartland at a 5% discount.