A big move today and for many, begs the question what’s at play. Opinions are likely to vary on this and I can only share my view on this. There was a period pre the release of the FYE results where the price was anchored around 3.15, with some very sizeable cross trades and and algorithm to manage the trading outcome. At that time, it appeared to be a managed sell-0ff with a broker employed to illicit buyer interest.
Several weeks on and I am now convinced that that initial read was spot-on. The recent change in substantial holder announcement supports that belief. Moreover, the trading patterns have not changed where substantial orders hit the buy side to match the sell quantities or the price moves to the bid quantity....all algorithm driven. My view, a broker has been tasked with placing several million shares on market. Not momentum selling but rather fetching large quantity placements.
Confident that today’s fall will be negated within days. For me, none of this matters as I am only interested in what happens over the next 3 to 5 years. If it has a three in front of it, a great buy IMO.
Will share some info on some research I did on PPH’s competitive landscape in the USA when I get a chance. Dominance of the faith sector is a lot closer than I originally thought.
Rokewa
PPH Price at posting:
$3.53 Sentiment: Buy Disclosure: Held
