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.
All will be revealed next week, Tuesday 13th half year results. Market imo will be looking for a material improvement in sales performance. Everything else $ has been predicted in detail here and elsewhere.
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).
Some big numbers going through SUM today. Things must be gearing up as this month we find out how they are performing.
Maybe Norah is buying back in
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
No - Harbour and Kingfish buying before the big jump.
I see that Kingfish have more RYM than SUM now ...at June 30th was the other way around. RYM snuck into their Top 5 ..must be hind they are pretty good.
Last edited by winner69; 12-08-2019 at 04:26 PM.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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
Last edited by trader_jackson; 13-08-2019 at 08:44 AM.
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