I put in an order of 38.5c today, but it didn't get that low- close, but no banana- talk about a tight trading range. I then took the order off after hours, because I got a bit chicken. I was wondering it 39c would hold today because there only seemed to be about 1 sale of 39.5c and the rest were happy to sell for 39c. I was wondering if there'd be a big exit before the ACCC decision, or a bit of bullisness in anticipation- neither occurred, really. Maybe a success at the ACCC (I'm assuming gthis, but could be wrong), won;t make any price difference tomorrow. I guess we also don't know (do we? Does anyone know?) what time we'll get the decision- it may not be first thing in the morning.
I did a diagram the other day to work out risk/reward and see if I might plunge more money into this dog. Here's some of the risks I came up with, if anyone is interested:
Risks:
- ACCC decision - more Big Pharma's jumping ship from the wholesale platform following Pfizer - Change to the constitution is voted down, so doesn't allow for the special dividend/capital return (that's January, I think). Shareholders involved in the class action may vote no, as mooted by SIP. - Large special dividend pressure affecting the underlying share price futher - Lazard, as SIP's still current financial adviser, selling down- not a good look - the share price falling in general, with not even the possibility of a 30% FF dividend being able to add some price pressure - the class action, and SIP saying they will require money to fund that (it doesn't look like insurance will do it)
Reward: - the special dividend. ___________
:( Poor old SIP. I wonder what this company and its share price will look like in a year, when all of the above is resolved one way or another. Call me irresponsible, but I'm still thinking of buying a bit. I hope the above doesn's seem like downramping. I'm trying to be as positive as I can or I wouldn't be thinking of buying more. :)
Good luck, folks, tomorrow. I'm hoping it's just a matter of a rubber stamp from the ACCC.
SIP Price at posting:
39.0¢ Sentiment: None Disclosure: Held