FPH doesn't need any reason to move around ...but most likely due to higher inflation worries spooking high multiples stocks ...Nasdaq had a bad 4th day
So current price is below the average price of the last 400 trading days …..1.6 years or thereabouts
Doesn’t seem much an investment on that basis
Depressing stuff
Yep, for a "growth" stock, that is depressing. What is also depressing is Management seem unresponsive to shareholders. They've made extraordinary profits over the course of the pandemic but no special dividend, no buybacks and very little info on future earnings or growth. I realise the SP moves at the whim of the instos and good times may come round again, but the lack of SP support is unusual for what should be a defensive stock.
3% OCR and the stock was still climbing.
Maybe the market thinks we'll have 6% interest rates but that's rather unlikely.
I think the market is in two minds about FPH because it reaped a huge covid reward and everyone is thinking... well, what now? Personally I think this is such a quality company that it will continue to power on from here. May take a bit of time for the market to wake up to that, but not too long I suspect.
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