Based on the latest letter from CCE, is CCE a good investment? No. Therefore, any further investment by me would be immensely speculative and only made in a forlorn attempt to recoup some of my investment. Would I be likely to get anything significant back from CCE. Realistically, no. Logically, my investment is gone. Wishing for a miracle will not make it happen. I am voting a firm NO.
There has been plenty of mentions of some of the culprits. For me, anything with Fitzpatrick attached to it becomes a bad bet.
Carnegie's stock price fall began when the Rudd government announced their REDP grant program on the steps of Carnegie, and then didn't give Carnegie a grant. As far as I am aware, not one cent was given to any company under the REDP scheme, because the Rudd government chose companies that couldn't meet any targets! The headlines had said $60million+ would be made....and then, after a respectable amount of time, the REDP was quietly closed. The government got a lot of headlines and hoorays for no cost. A new headline generating scheme was announced later and the repeated - make headlines to attract votes, chose renewables companies that cannot meet targets (or pay-off some mates), then close the program.
With my stock value now at next to nothing, I'll hold for the miracle, but fully expect to ride this to dust.
CCE Price at posting:
0.4¢ Sentiment: None Disclosure: Held
