I suspect the fund I mentioned before Investment Services Group have been gradually reducing their stake this year going down from 8.69% to 6.84% and recently to 5.72%. As at current notice they hold 9.5mln shares under their belt. I'm picking they might go under 5% threshold soon if they continue their intentions of offloading.
So, it probably is wise to wait before doubling down or planning to buy in, just my 2c worth.
That was prescient, the day after ... 'boom' on massive volume. Look at the course of trades for the day and the big numbers changing hands and the crossings at close. Someone big wants out.
I have this bit of software that goes through the days share price movements and flags up things that have moved a lot.
Unfortunately today it put VGL on the list.
In days of old when I held this stock and hardly anyone else talked about it I was always baffled by the ridiculous price it traded at to the extent that I eventually sold it for something more comfortable.
So three years later and what do I see?
A company achieving world domination but not making much money doing it.
A company still trading at a ridiculous price, even after the collapse today.
Why anyone would think of buying into this now is beyond me.
Enlighten me
Disc:
Currently go to the movies once a week on 9 ringgit days.
...............
In days of old when I held this stock and hardly anyone else talked about it I was always baffled by the ridiculous price it traded at to the extent that I eventually sold it for something more comfortable.
So three years later and what do I see?
A company achieving world domination but not making much money doing it.
A company still trading at a ridiculous price, even after the collapse today.
Why anyone would think of buying into this now is beyond me.
Enlighten me
Disc:
Currently go to the movies once a week on 9 ringgit days.
Probably the same reason why you bought it then in the days of old and would sell for the same reason you did. We will see and as I said before, it was always been gut feel that guided me on my punts when a stock is down.
disc: would only go to the moviehouse on a blockbuster show as I get most of my sports/movies on free streaming
I have this bit of software that goes through the days share price movements and flags up things that have moved a lot.
LOL. Clever you. I've no software, the daily NZX top gainers/decliners list does the trick for me.
Originally Posted by Snow Leopard
So three years later and what do I see?
A company achieving world domination but not making much money doing it.
A company still trading at a ridiculous price, even after the collapse today.
Enlighten me
I doubt I can enlighten someone with your skills (or software!?) and I'm not here to defend VGL, however the same criticism/comments have been made in the past about many of the current 'success' stories, e.g. XRO, ATM to name just two recent ones.
Small to mid cap companies which have a high risk component offer immense returns if they do manage to turn their "world domination" into profitability and become 'large cap companies'.
This week VGL alarmed the market with their announcements of slower growth and they have been punished as a result. I suspect they are being very conservative in their projections and will continue to watch their progress with interest.
Keep watching your movies SL and maybe VGL will have a happy ending!
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