Yes, I agree. What gives me comfort is that I tend to do a lot better when I average up, then averaging down.
Two weeks ago this stock was priced for administration, with big questions over liquidity. The deals announced in the past two weeks should remove much of that doubt. Bear in mind, this stock is still trading at half the price it was trading at 3 months ago.
I wonder if there are other factors at play, is institutional selling still going on with its recent removal from the ASX200, and is L1 and AusSuper finished with their selling or are they continuing to dump into this market at any price? Are some people who are just over it, selling into this to crystallise a tax loss ahead of the EOFY? If any of these factors are true, it might explain why despite the positive announcements to resolve its near term issues, the share price has not recovered to what it was even just three months ago.
CRN Price at posting:
19.5¢ Sentiment: None Disclosure: Held
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