MM, I do not want to be perceived as a "down-ramper" because I am not. I do not hold the stock at this very moment but I love GNC. I trade GNC and I think it is an excellent business. And I think you are right. Even more so if the XJO index gets hit by a small correction many have been predicting lately. If that is to happen we have two driving factors that may contribute to a further fall;
1. Negative sentiment based on a more conservative earnings announced the other day.
2. A small correction
If 1] was to bring another 40-50 cents in the SP reduction and if 2] happens I speculate that it too would bring another 40-50 cents in the SP reduction. That is precisely why I am out. If that is to eventuate I will throw some considerable funds (sub-6) in GNC and wait 3-6 months till its SP does another U-turn. Pick $1-2 per share and offload it then, again.
Simple. Just sharing (outloud) my strategy.
sell-off overdone?, page-8
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Last
$8.60 |
Change
-0.020(0.23%) |
Mkt cap ! $1.929B | |||
| Open | High | Low | Value | Volume |
| $8.66 | $8.66 | $8.53 | $2.368M | 275.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5834 | $8.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.60 | 897 | 1 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| GNC (ASX) Chart |