The results announced on 16th. August were somewhat underwhelming and the SP has been hurting since. It appears to have settled at around the figure mentioned - $3.05 and like others I am expecting an upward movement from here is likely but it will be a slow one - three steps forward two steps back...... The overall market has also been fragile and is now only at around the same level it was mid July - this hasn't helped sentiment for GEM. The next half year results will be the proof of the pudding - if those results disappoint then the SP can be expected to slide south - again - but further. Dare I say that any reduction in dividend will also spell disaster, however, dividend is well covered and the second half results have consistently exceeded first half results for the past six years - a seasonal aspect to GEM's income. A positive aspect is that activity of major shareholders in recent weeks indicates that at the current SP level they are topping up. I still like the stock, the potential, the dividend, the franking and the growth opportunities - I am holding.
GEM Price at posting:
$3.06 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)