I have the liquidity to double down but all of my cash is in multiple short term deposit. Need to wait until they roll over. The rates are so low that you're pretty much forced to put it into the stock market. Just lol at taking 1.5% pa and paying tax on it. The stock keeps going lower which seems to be working out for me nicely. I'm pissed my average is 14.9 but heaps of people here have it way worse then me!
Why it keeps dropping I don't know. Seems like there are regular sellers but no large institutional funds to absorb the supply. Perhaps because ASB pulled their lending margin account and also retail keep getting stopped out. Everyday disgruntled holders are bailing and taking huge loses. RIP to all the Sharesis users who bought in at the push to 20 a few weeks ago. Lots of people are also taking profits after the 12c placement. Noobs are selling and rushing into Afterpay type stocks.
I've stopped pushing the buyout story. Had to take things into my own hands... an't that right Balance, Mista?
The problem is the share registry. Management own basically no stock. The two largest holders are UK based funds who have absolutely no idea what is going on over here. ACC are only in this because they have no where else to put cash. There's a couple of Australian funds who bought in to make a quick buck on the back of the placement. Then there's Blackcrane and Vanguard who are the only two dark horses in this race. The rest of the registry is small funds, ma and pa investors, and retail holders. In other words, the registry is a dead fish. No one is doing anything about it.
Seems like after the failed Vodafone merger this company became a walking zombie. Martin got given a "hospital pass", dropped the ball, and got knocked out. The media jumped all over this and pushed the "death" narrative. Trading on the ASX is basically non-existent. Hotcopper is a ghost town. What else do you expect was going to happen.
Stock hit $230m market cap today. Just lol. Might as well shut it down and pull the plug. Why even bother. Time for this dog to go private and get a new owner. One that will actually feed it and give it encouragement as it gets nothing but abuse on here at the moment.
The buyout/take over will happen. Trust me. A mere USD$250m will buy this thing. That's about USD$6m per year in interest costs on a 30 year loan. The company is earning over NZD$100m per year. Cash is king. Eventually the stock price will reflect the value, when "the" material event happens.
I went to the Blues game on the weekend at Eden Park. It's basically ground zero for this stock. I saw with my very own eyes the camera men running around wearing the Sky Sport uniform. Rugby is more than just New Zealand's national game. It's embedded into the culture. It's like watching gladiators fight in the Colosseum in ancient Rome. To quote the Gladiator movie...
"The beating heart of Rome is not the marble of the Senate, it's the sand of the Colosseum.". The beating heart of NZ is rugby.
Originally Posted by JSwan
Another cap raise at 0.10c?
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