Service Stream was awarded a $40m contract to install smart meters for Jemena and United Energy Distribution Infrastructure in Victoria last Nov. They are also performing installations for the CitiPower and Powercor Electricity.
This would be the more logical reason for the drop, but also don't forget that this stock, on most days, is not a high volume stock and one seller who wants to exit especially if they bought in at historical lows can push the price down by a few cents.
I personally think that the company has work across a number of areas as well as the meters eg the new Orion MOI & the Telstra 2 year renewal. It will also pick up work in the NBN rollout. It will also be helped if they announce a divi payment again. The stock will trend up but it won't have the spectacular rise that we have seen in some junior iron ore miners or rare earths as they have been re rated from their lows......
SSM Price at posting:
54.9¢ Sentiment: Hold Disclosure: Held
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