Who knows. Maybe it's because people like to follow the herd. Plenty of stupid shit is popular for no good reason.
I remember evaluating TBR at 70c and thinking it was too good to be true - cash & bullion balances greater than market cap etc. So I assumed that there could well be something fishy going on, and only put a small stake into it. Obviously I wish now I'd trusted my own analysis and loaded up.
That said, at current prices TBR is IMO probably close to being fairly valued. But at least it doesn't have the potential downsides that you've pointed out for NST. Like you, I don't see the value. On an NPV basis I struggle to ascribe $5 per share to it.
Am I missing something??, page-2
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Last
$3.68 |
Change
-0.120(3.16%) |
Mkt cap ! $193.0M | |||
| Open | High | Low | Value | Volume |
| $3.79 | $3.97 | $3.68 | $73.71K | 18.96K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | $3.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.97 | 8600 | 2 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| TBR (ASX) Chart |