1. the company was severely undervalued prior or the announcement.
2. the owners of PGC did a very astute deal by merging with CH2 and doubled their value as a result
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3. market got a bit excited and may have overpaid.
personally I was very happy as snapped up a decent parcel prior to the results announcement and sold out today. I could regret selling too early but the rise seems unsustainable as other than synergies and cost savings not a huge amount has changed for the 40% lift.
very tight margins on CH2 - they could go up and that would be huge but they could also go down which would be a huge flop.
profit take for me for now and will continue to watch what unfolds .
well done to all holders who stood fast during the crazy sell down 6 months ago!
PGC Price at posting:
29.0¢ Sentiment: Sell Disclosure: Not Held
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