Yep this stock has been way oversold and really it should be around the 40-50 mark.
Daytraders and shorter have pounded the stock to bits.
Some panicked traders and holders bailed after the announcement today but lets see if it bounces back tommorrow which is likely.
The loss was attribited to writedowns which is normal in any businesses life cycal.
Some more news due in a week and some positive news coming from some of Centro's larger shopping centres being sold which should move down some more debt.
Let's face it they look having to sell off some the crown jewels in their portfolio to survive. But surviving will be the key as they will be in a stronger position should things pickup and their valuations increase.
I dont know of any large shopping centres being built lately so the current holding will not be tarnished too much.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
