Whats that old saying about a bird in the hand being worth 2 in the bush - and the POO has hit its ceiling which could see a retrace at any time down to $40? or even $35?
If AIZ had not of taken this move it would have been smashed at the CR through dilution anyway and you could double that loss - they have cash now - not a liability which VAH was so yes they made a loss on their original investments but thats now in the past & investment focus can be on Air New Zealand not on Air New Zealand's stake in Virgin who need lots and lots of $$$ which will have to come from shareholders...
I think we'll re-trace to around $2.40 over the next week or 3 & if the POO comes down as well we might just get back to $2.70/2.80 again & if a special dividend is also dished out then Air New Zealand may take off finally after dumping its anchor that was Virgin.
AIZ Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
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