I read the report before looking at the market reaction.
I emailed a friend as follows:
They seem to be trying to make things look not bad rather than BEING good.
Dividend up 44% on same half last year, profit up 49%, but ..... revenue up only 10% !!!!!
This is a high PE 33.5, high growth stock but revenues only 10% !!!!!
Me thinks might get smashed on opening.
Me did not expect the price to fall 38% soon after the opening.
I expect a rebound.
With a fall of that size every trailing stop loss will be triggered
Only those fixed stop losses that have remained dormant for a long time will not be triggered.
Sellers will out-number buyers for quite some time.
Then in a few days as the price rises and buyers and sellers quantities rebalance we will get a more accurate sight of just how bad the report was.
Dividends and profits can be manipulated but it is harder to hide poor revenue growth.
APO Price at posting:
$5.61 Sentiment: None Disclosure: Held
