I also wouldn't underestimate the sharsies players.
I remember being on their Facebook page when PEB was a rave from ANZ buy-in. I remember some guys had 30k in PEB. I mean 30k, for new investors in only one stock? The share price is stable then boom you double your money. It begins to decline, what would you do as a new investor who doubled up? Sell I reckon. And there were a few big bidders also.
It IS different this time - there is good news to come - but when and how much is anyone's guess.
With broker targets ranging from $1.40 to $1.60 - but in 12 months time and with a risk caveat - it seems many buyers jumped the gun and forced the SP northwards way ahead of any actual news being released.
No panic selling by me. I've seen PEB at $1.70 and at 10cents and ridden the waves over the years. I'm hanging on to my investment waiting for the SP to reach $5 in 5 years time - or to be subject of a juicy T/O bid sometime before then.
Meantime traders are having a bit of fun - or there are some panic merchants running for cover.
GLTAH & DYOR.
DISCL: Hold heaps at 59c ave.
"Don't be afraid to take a big step if one is indicated. You can't cross a chasm in two small jumps." David Lloyd George
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