well its not really relevant where the price is in 2 weeks anymore.
You can call 50s, you can call 40s, what satisfaction do you get unless you are shorting this stock?
It is already 62.5C. 50C range is only 2C away, this is not a great prediction.
mostly it has been punished and selling begets more selling
The share price isnt reflecting its true value.
It just delivered a new vessel, which if anyone, or any fund manager bothers to read prospectus, boosts output by 50%. The 2nd vessel kelpie boosts output by a further 28%, so 78% boost in capacity. As anyone knows, the demand for cattle is very strong. Also fund managers know the Shearer ship, only is making its first shipment(s) in June, the very last month in FY16 year, so FY16 numbers is hardly reflective of the potential.
a ~78% boost in capacity in 1 year, and the share price is dropping out of the sky on no new negative news. I dont think the kelpie will be the last of the increase in capacity either, market is saying there is no potential at all.
share price is not reflecting the true run rate of output- shipping in june according to ed is up 50% in capacity, just like the prospectus said.
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