AJX is my worst performing stock over the past week and month, yet I find myself just as excited about it. The drift down was probably to be expected after all the hype and the US listing imminent. Even I was forced to sell a few to free up capital to buy more RAP.
There is an element in the newsletter that I can understand causes unease... You win what appears to be major contracts and it is $2m revenue here, $4m a year there etc. Not exactly top200 stuff for a company already with MC of >$250m. There is an element of catch up needed, and an element of "show me the money".
It has grown in just this year to be my second largest single holding worldwide, but there is something about the sheer energy of the company that is compelling, causing me to run it without serious profit-taking.
The application possibilities are almost endless, and the management are right on top of the possibilities and already pre-marketing it seems. The research team are delivering on new applications. There is a real sense of a small company spirit and communication within what is already a substantial company network.
I confess I have neither spoken to nor met the top management, but one can gather from anecdotal evidence that we are dealing with a management team that is going to turn this into a top 200 company within years.
We will look back, by March next year, as we have done before, and say "do you remember when it was only trading at "x".
Once again I pass on my appreciation for the efforts of fellow HC members who have taken the trouble to attend meetings and communicate with NC and have shared their insights with us. Latecomers and sceptical types should note the accuracy of the predicted outcomes this year.
Should RAP hit 10c next week, I shall be doing some profit taking there and putting it back into AJX at this level.
AJX Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
