Both companies have issues particular to there businesses but the acid test is how their share prices have performed over the last few years and it is not pretty . Full disclosure I traded CTP a couple of years ago and made a modest profit but have just watched them go down after I sold the last of them .
COE likewise had a bit of a punt a few years ago and made a decent profit but have just watched them for a few years and felt lucky I had dodged a bullet as they sank . However I could not help myself and had another decent dip at them a week ago and am a little underwater so far .
The government actions is a very blunt instrument hurting struggling businesses as well as those making super charged profits .
In the long run it will make gas prices higher if it stifles exploration and development . Wind and solar can be complementary to gas power but cannot replace it .
MEL Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
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