How many hot copper retail shareholders sold out today?
the last few days have looked very much like classic short selling behaviour. Heavy dump on little news. Sustained selling while the rest of the share market was going the other way.
same happened to Star entertainment last week. $40 mil sold off at a heavy loss on a rehash of old regulatory news. The share price dropped 12% only to regain its price this week.
those that sold must be feeling a bit down this week.
APM is a better stock IMO. $170M npat last year should be repeated more or less this year. That's a 17% return. Enough for a good dividend and pay off a chunk of debt.
hopefully management put the cheque book away and don't buy anything new as once this debt is reduced it should be a strong, safe. long term dividend stock
ill look to top up when things settle
good luck all
APM Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
