as a spec, page-3

The dreamers who were spruiking VBA pushed the stock to unreal levels - a future p.e. that once hit almost twice than of QAN.

Until yesterday VBA still had an unrealistic future growth premium built into its p.e.

What we are seeing is that future growth premium being stripped away (as happens so often with high pe stocks), and the pe coming back towards something of a proper level.

However, the pe is still above QAN - and I would suggest their is no reason that it should be. On the contrary, QAN is a much healthier operation on most fronts.