PC, i can't agree,averaging down is fraught with peril.
This company is in the hands of the banks,traders may do o.k .
Company has put itself in this mess with bad business practice,what they did smacks of desperation in the face of increasing competition and a badly performing,overpaid acquisition. A lot of fences to mend and non core assets to be sold,they are under the gun and their track performance does nothing to inspire confidence.
Litigation is on the horizon,not good.
IMHO expect to see Elmo and Stokes resign this financial year,this may give temporary relief to share price, along with speculation of a takeover, the problems still remain.
As a small speculative punt,maybe,rises to 60-70c,IMHO take the money and run .
SIP Price at posting:
47.0¢ Sentiment: None Disclosure: Not Held
