SUM - Summerset Group

[JoeGrogan]

looks like its gonna test the $5.10 level again, may have to accumulate some more if it falls to low 5's or sub 5.

[couta1]

Not quite a falling knife in my book, rather, someone's just waving it round a bit!

If my allocation of Oceania doesn't look like performing on Friday I might switch the funds into more SUM.

Your onto it, just money recycling going on, maybe some who missed out on an allocation or didn't get what they wanted of Oceania are looking to buy on market once it's listed. Ryman also down heavily, so it makes sense. PS-VWAP of just under $5.12 was always going to be a target after that big trade this morning.

[trader_jackson]

I keep chasing this mother down but it doesn't want to find it's bottom, Ryman doing good Roger, get that cider ready mate, still a few weeks to go until it's result so it should hit my target price. PS-Might have to sell some Sum if I accumulate too many (Probably not possible) Sum must be one of the only true value stocks left in this current bubbly NZX. PPS-Not at all worried if I end up XXXOS in Sum.

Posted yesterday when the share price was 7 cents higher... Surely you have been buying all week? doubling down every time it went down (which has been every day this week)... hope you have some cash at hand when it dips below $5 this friday! (on track to do so at least... )

With a 4 in front of SUM's share price, even I might have to put my OCA investment on hold and get SUM shares

And anyone who think SUM's weakness has to do with OCA listing... would seem crazy that the most comparable, being ARV, is actually up 2.3% so far this week

[macduffy]

And anyone who think SUM's weakness has to do with OCA listing... would seem crazy that the most comparable, being ARV, is actually up 2.3% so far this week

It's not a matter of the "most comparable" but more one of where the most retirement sector money is that might want to have a flutter on OCA.

[couta1]

Posted yesterday when the share price was 7 cents higher... Surely you have been buying all week? doubling down every time it went down (which has been every day this week)... hope you have some cash at hand when it dips below $5 this friday! (on track to do so at least... )

With a 4 in front of SUM's share price, even I might have to put my OCA investment on hold and get SUM shares

And anyone who think SUM's weakness has to do with OCA listing... would seem crazy that the most comparable, being ARV, is actually up 2.3% so far this week

Yes trader jackson I have been buying several parcels every day this week chasing the price down, pulled my last couple of bids on at $5.12 just before it dropped to $5.10. Will take a breather and see where things head over the next week. Once your holding gets to a certain size then it takes a good sized parcel to move your average price down even half a cent. PS-People wouldn't sell ARV to buy OCA, they are basically the same as opposed to SUM and RYM, hence why the share price has not been affected.

[trader_jackson]

It's not a matter of the "most comparable" but more one of where the most retirement sector money is that might want to have a flutter on OCA.

Actually you and couta1 could have a point, I was thinking of the perspective that one who would invest in ARV would also like OCA (as they are most comparable - which I think we can all agree on) and vice versa (which could be what is proping up ARV recently, although if ARV is way overvalued compared to OCA you'd think we'd see a huge jump in OCA?)

But you guys are saying those in RYM and SUM (maybe MET as well) are wanting to invest in what some (many?) have said is an absolute dog (in terms of growth prospects and business structure) and has terrible management? (this point mainly for OCA)...
So much so, in fact, that it causes a noticable dent in the market cap of a couple much, much larger companies, which are apparently much, much better? (better proven track record and higher growth)
Hmm... Interesting way of looking at it, but maybe Mr Market is having a 'Chris Lee' moment and having a change of heart on ARV and OCA...

[JeremyALD]

Personally I don't think the float for OCA is having that much impact. Afterall why would you start selling down your shares now to free up capital when you don't even know what the opening price will be. Retirement stocks just aren't the in thing at the moment. SUM, MET, RYM are all down 10% to 15% off previous highs. I think the property slow down is having the biggest impact, which is kind of irrational but to me that's the current market vibe. SUM has been subject to this the most because of their multiple buildings in Auckland and the market didn't like the news that some projects might cost a bit more and have a few delays at the shareholder meeting. This negative sentiment has been offset by the great growth story which is why there's plenty of support around the low $5. SUM is well positioned but might take a few months for the share market to start realising it.

[Lewylewylewy]

It's panic about house prices. SUM affected because of recently Auckland report today. Sum have lots of interest in Auckland.

[macduffy]

But you guys are saying those in RYM and SUM (maybe MET as well) are wanting to invest in what some (many?) have said is an absolute dog (in terms of growth prospects and business structure) and has terrible management?

More of a stag than a longterm investment, perhaps. Despite all that is said and written about the risks of participating in IPO's there is still an appetite amongst some to take a punt on a new float. OCA's strike price looks promising in that regard - but we'll see!

[Bjauck]

It's panic about house prices....

I think the underlying profitability remains good for SUM....and it has those demographic tailwinds...

However the government's continual downplay imo of the unaffordability of the Auckland housing market cannot conceal the fact that the fulsome values in Auckland are based on historically low interest rates. Some shareholders in SUM had possibly been holding their shares based on the continuing of the gravity defying strength of the Auckland housing market.

Disc: happy long term holder