Donthat pretty much said it all. I would only add that many times over the last year when the market was struggling ESG was on an uptrend because of its particular growth story. We did have a fall OS last night and the ASX will be off as much as 100 today but I expect the selling to be mostly in those stocks that have risen steeply in this rally .. namely the financials and resources and among them the majors which have been bought up by instos ansd mums and dads alike. I agree that the SPP hasn't helped and has probably caused the fall from the mid 90s but ESG shouldn't fall much further. ESG management must have a "plan" to see that the SPP succeeds .. so news should cometh!
Today I don't expect ESG to go up when the market is falling but it shouldn't fall too far. Depends on what the quarterly says. No predictions from me however! Over coming weeks also if the market corrects (I think we should not have rallied beyond around 4500 anyway) ESG has less reason to fall than most stocks.
Another "safe" stock is HGO so I'm glad I'm in that one too.
H
ESG Price at posting:
86.5¢ Sentiment: LT Buy Disclosure: Held
