Ss
I have only held for 2 months so i don't know how I have been talking them up for months . You are correct that I said I sold because I thought the price would fall more than the divi , because it was bid up due to divi . The day before divi ann it dropped to 26.5 cents and was falling along with other IO stocks . The divi was ann and it regained strength while other IO stocks continued to fall
Often on Hc people struggle with the fact that I can be positive on a stock and then sell . The market is fast moving and valuations change on underlying metrics . You can't tell me the IO price fall and the subsequent margin compression is not something that changes GRRs valuation
I explained why I was selling . I have also articulated when I would buy back and why.
I don't not like the stock - I simply think current IO prices will weaken more and that GRRs margin may fall to 30-35 per tonne . This halves the margin they were achieving at the start of the year if it happens .
I hold PRU and ROC , if gold or oil fell by 15% in a month I would likely change my valuation on those. The danger in investing is not altering your inputs when these inputs change . That's all
I have done , change my pellet price assumption to circa 135 for the year. At that price 21-22 becomes a safe entry for me. Not suggesting IO pellets will do to 135 or that price will drop to low 20s - just explaining my rationale
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Last
36.0¢ |
Change
-0.020(5.26%) |
Mkt cap ! $416.6M |
Open | High | Low | Value | Volume |
38.0¢ | 38.3¢ | 35.5¢ | $1.161M | 3.169M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 14701 | 36.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
37.0¢ | 292464 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 14701 | 0.360 |
3 | 75001 | 0.355 |
9 | 684485 | 0.350 |
3 | 24090 | 0.345 |
3 | 307849 | 0.340 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 163500 | 3 |
0.375 | 179442 | 3 |
0.380 | 160520 | 2 |
0.385 | 151408 | 7 |
0.390 | 189752 | 4 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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