Sorry, but sitting in a transit lounge is quite boring so I thought I’d throw one last post out there before my wife bans my phone for the rest of our holiday. Given the dramatic fall yesterday, all large funds would have developed a plan overnight for this morning’s trading. I’m not picking todays movement (could be up, could be down), but with a CR now on the table, it will be in the benefit of the large funds to beat this stock down – they have to get their money back, and getting this stock as low as possible to pre-empt the CR announcement. To what level after .50c, I’m not willing to bet on. Therefore the funds will expect the worst in the August update and will drive this stock until such time. Then they will have it both ways.
For any small investor it’s certainly not the time to dip your toe into this water, it is as mentioned by others, a traders stock for the foreseeable future. Don’t get the false belief that with the ASX recovering, this will as well. Recovery, post restructure will be very long indeed for BLY. That recovery will come at the expense of all long-term holders. Momentum is now afoot! But as I have always stated, beware of the unexplained PD from left field, they will happen.
I’ve thoroughly enjoyed the debate on BLY, and all the very best to you all. One shot across the bows of BLY from one that has experienced them in the field; look at some of the past positives of the company pre-float. Your new management and operating systems have caused more inefficiencies than you admit. The generation of operators (70’s, 80’s and 90’s) that I had the pleasure of working with were fantastic leaders in the industry, unfortunately you’ve tried to reinvent the wheel and it has let the reputation of those previous generations down.
BLY Mark Two needs a critical eye, I hope for the brand and history of a company that I am fond off, that the new President has that.
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