This manipulation or push down is quite sad, but there are a couple of things that come to mind regarding these guys:
1. trading vol is still quite low. 2. high qty very small trades occurring pointing to auto trading bots. But by who and why? 3. no notices on changes in substantial holdings, so its not the big boys doing this. Again, who and why i don't know? 4. mid year target of (i think) $12Mill, was met according to Feb half year annoucement. 5. End of year target of (if I remember right) $37Mill is by all accounts on track. The ramp up of the $1bill 4 yr contract with Telstra is why the second half profit is so bigger than the first half.
This last point is an interesting one. Maybe sentiment is negative due to a belief they will miss this final year number. I disagree. But how long is this pain going to continue? I wish I knew and I hope not long!!!
I'm looking for mgmt to put out some annoucements, hopefully soon to try to sure things up. It appears SSM is unloved but as you guys have mentioned the fundamentals are very sound and they have good long profitable contracts in place.
I just wish I had more spare cash to buy more, as we all say when our shares are lagging. How much lower can it go? And should I get out now and hope to get back in lower?? I don't know, but I surge upward appears unlikely going on recent form, and a slow decline will continue until some news comes out!!!
PnB
SSM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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