So, only 2 days after the quarterly drops the share price by 30% percent, a director buys $100,000 grands worth through a business account that effectively halves the account's average price for PRU.
Not only that, the price has quickly bounced back almost 14% percent since then.
Nice insider buying !!
If you listen carefully to the MD's quarterly presentation and questioning, he reiterates how extremely conservative their costings are, and how they intend to substantially beat them in the next 2 quarters. I think they already know what the next quarters are likely to be. I think they deliberately played this very down-beat, and ultra conservative, so they can surprise the market at the next 2 quarters (and show how hard they have been working, and what sacrifices they are making on behalf of shareholders - and hopefully then earn themselves a bonus).
This has all been a subtle subterfuge, or to put it another way, "a cunning plan".
And what good timing. You don't do these things when the gold price is booming, you do it when it is down. Because when the gold price is booming you release booming announcement so that your stock can take flight and ride the giant up-wave.
An interesting stock this is, peopled with some interesting business characters.
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