I feel little sypathy for those who bought in on the rumour - as they spiked the price just as it was beginning to gain a legitimate momentum... then the speculators dumped... and the price fell... there's a large part of your answer...
part 2 - continued scepticism that PEO intends to produce a reasonable net profit for 05-06 as they continue to spend their margins on sales staff to maintain a high rate of growth. (growth does not seem to be satisfying the market)
Having said that - Barry Hamilton did say to me at the AGM that one should bear in mind how many companies there are out there that have spent all this money on great infrastructure but have no customers - this making PEO very attractive to such companies. Although he did caution that he was not suggesting that this possibility was an actuality in any sense. Perhaps he was just carrot dangling.
PEO
people telecom limited
