I am a little surprised that CNP is allowed to trade given that its true ongoing financial position is unknown.[it could get suspended at any time as things develop, just like AFG and MFS did] The first half loss might be small compared to the second half? Has anyone added up this current $1.1b loss + debt + likely further loses and come up with a net figure? I really suggest you guys may want to read todays fin review articles on CNP. The services company [valued into the billions] may well be worthless as a trade sale and it looks like they borrowed against it to expand. I have this feeling that this maybe the walking dead like onetel was in the tech boom when everyone thought because it was $10 and trading at 50c, it must be cheap. I guess the truth was that it was never worth $10 in the first place. If you buy a stock with an NTA of $1 and its trading at $10, then you can get some idea of just how bad things can get. I have nothing to gain by down ramping the stock, i just reckon its a stock where anything could happen and when your in trouble like this, its not likely to be on the upside. Punters get attracted to stocks like this but it can be a bad experience. hope you longs are right. good luck.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
