Ive just read through all the PSD acqusition presentation and all the other announcements and I just cant understand the reduction in share price.
Being lawyers, they know that they must inform the market of any price sensitive information and they have not provided any negative updates.
No bad news is good news.
UK pound continues to appreciate against the Aussie so we have positive currency gains too.
On fundamentals this now must surely be a screaming BUY.
Sure there may be people shorting the stock BUT long term that all has to unwind.
Either the stock is a great buy OR Mgt are withholding price sensitive information IMHO.
Can anyone tell me why on fundamentals this stock is not undervalued.... Or is it just possible negative news to come?
The only negative I see is that MGT now need to stop the acquisition trail and bed everything down because the growth is BIG and they need time to integrate and focus on making money not further acquisitions.
I bought more shares yesterday at $3.38 because I just cant ignore the strong fundamentals of the business that is in a growing market.
Best buy of the year
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