Morgan Stanley slashing their PT from $4.25 to $2.80 caused the sell off yesterday imo. With that downgrade still fresh in everyones minds it may take a little while to recover. Occupancy levels have disappointed the market and why wouldn't they. You can't run a business on 100% costs against a 77.7% occupancy rate. That's 20% loss of earnings before switching a light on. Next years forecast of 79% occupancy levels are another huge disappointment. Not sure what Management are doing to address the problems but until they do the big boys leaving won't be back until then. This could easily become the next shorters paradise stock imo.
GEM Price at posting:
$2.52 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)