I have just moved on from ATL during the current spike. Well done to stan255 for averaging down to now be in the green. I paid over $1 per share and was given this as recommendation from Morgans a few years ago. As I was about to start retirement, thought I would follow the advice, but in hindsight should have avoided speccies.
My thinking was the share price was dropping well before the drop this year from covid. I did think of buying a few more to average down but thought the possibility of them going broke, and bought other shares which I want to hold for the long term. So with the share price in the 20c range prior to covid, I just can't see from a fundamental perspective how they will do any good for a number of years. The US business has no vehicles and all businesses there are on hold. Other countries outside of Australia and New Zealand have covid running rampant, and this will restrict Apollo making any money until the vaccine is implemented and working. About the only thing that will save Apollo is the brothers holding 50% of the business, and will fight to keep it afloat.
So in the end I took the hit and moved on. Good luck to those who bought in at 7.5c during March.
George
ATL Price at posting:
33.5¢ Sentiment: Sell Disclosure: Not Held
