Hi Mickem
I too am a long term holder, even longer than you. I agree that PET normally responds well to announcements. There are a few notable differences and explanations for the more muted response now though.
- PET is a $700M company now. The significance of $1.3M contract is not what it was when we were a $20M company
- A huge amount of new players who may not have our level of knowledge and trust in the company, also not sitting on massive profits and so are a lot more nervous and cautious
- The recent huge SP increases were on the back of very substantial announcements. The SP does already have a large amount of future growth assumed and built in to it. Announcements like this one and the last China announcement are seen as confirmation of the growth expectations already priced in. They are not substantial enough in their own right to cause another huge step up in the SP. ie they are not company making announcements but rather, confirmation that we are on the path that people hope that we are on. Announcements like this have an accumulative effect on the market and slowly build buying pressure.
There are many other factors, raised by other posters, that explain the muted response without getting too carried away with the conspiracy theories.
I too was expecting a jump on the last China announcement based on my past experience but have now had some reflection time and understand that not every announcement is going to raise market expectation as it has in the past.
If the announcements out of the USA continue and grow in size though, watch this space.....
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