Fair point John. No one here is saying PNR is going to zero just yet but seeing the cashflow pattern, it is very hard to imagine this going well at the moment. High degree of difficulty trying to do 2 projects instead of 1.
Will keep PNR on the watch list. I've been here before and have seen goldies move from depths lower than PNR is now. SBM was 7c comes to mind and from a high of $3. 37c to 13c does not even compare to that experience. But I particularly know that she can go much lower from here so its much easier to cut my loses now than persevere...jumping back in when the coast is clear and the dust has settled is not a bad strategy.
Happy to pay the premium of not buying at the bottom in PNRs case.
PNR Price at posting:
13.0¢ Sentiment: Sell Disclosure: Held
(20min delay)