daytrading feb 19 afternoon, page-2

Aspen Group (APZ) has been a disaster in recent times halving in price over the last year and today it fell like a stone after announcing large massive writedowns on its commercial properties which are up for sale. But I do think that the fall is over now and in particular, todays fall was unwarranted and overdone.

Aspen has revalued these commercial properties at what it believes it will receive for them. Its net tangible assets are $1.66 (written down from $2.22 today). So at a current share price of $1.20 you can buy into these assets at 75% of their likely value.

Aspen intends to sell its commercial assets and concentrate on its accommodation interests in Aspen Parks Property Fund and Aspen Karratha Village.

I have been a strong buyer today and I think that today’s loss will be gone by tomorrow. But if not, I think it's safe to hold.

GPASAS