No worries, I'd offload 1/2 at these levels. I think they will be worth more than this in a few years time, but I think that they have bounced a little too far for risk/reward. Let me put it this way, (as I mentioned in a previous post); At 15c, the company was free. That is, the market cap = their cash on hand. You were paying 15c a share (75m) for their debt (now about 900m) = 12x. NOW however, you have to still pay 12x for debt + another 60cps (300m)!!
It has gone too far IMHO. I think that to sell half and find better value elsewhere would be very prudent.
FYI, I bought LEI middle of last week. I see value here (maybe $30 in a few months) with MUCH less risk (although it has bounced a bit since I bought).
Cheers.
PBG Price at posting:
76.5¢ Sentiment: Sell Disclosure: Not Held
