I'm not convinced on the buy-back- a lot of chunky cross trades...

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Tattiebinger

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30/11/17

12:48

Post #: 29252279
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Originally posted by savvyinvestor ↑

amazing day for itd today. up almost 10%.
i knew this buyback would push the sp up, but i wasnt expecting 20% within a couple of weeks!
they are certainly buying aggressively on large volumes compared to traditional average daily volumes.
itd has become one of my largest portfolio components as a result of my accumulating on the way down to 38c.
i initially bought in the higher 50s after i discovered them for the first time and liked their great reports. ive been buying ever since as ive been amazed at the drift down as low as 36c.
my guess is that it was small cap funds taking profits after a great rise from 20c.
i think the buyback is both expanding the buy side but is also creating a secondary effect of making the funds stop selling out so much, and the tertiary effect of acing as a catalyst to attract new buyers to bolster the buy side further.

itd is still cheap on forward earnings, has strong potential to upgrade earnings due to new product launches and especially the biomerineux massive market opportunity. i definitely see 50c soon and 60c within 12 months so its an easy hold for me.

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I'm not convinced on the buy-back- a lot of chunky cross trades off market before the AGM. One could argue its been used as an exit tool for instos on the register wanting out.

ITD Price at posting: 44.0¢ Sentiment: None Disclosure: Not Held
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I'm not convinced on the buy-back- a lot of chunky cross trades...

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