This stock has in the past had a lull into which a seller puts a price ceiling and smaller sellers help it drift lower. The smaller end of town can have these movements. I am actually surprised that its held up at these levels. I had thought it would stay around 52c until more news was had.
This is in the long term portion of my portfolio and I think it is still able to reach my ultimate target of $1.00 per share but that time frame is still around 24 months away.
I think if anything it may well be a shorter time frame than expected.
I still think it needs another acquisition this calendar year to add to its base but things seem overpriced generally and with low interest rates its not an easy sell to a well run business as they cannot replace return.
I am sure they will find something in the next 18 months. Organic growth is great but nothing like getting to critical mass where other investors can invest - many cannot invest in this end of town via their mandates that preclude investing in the micro caps.
PGC Price at posting:
56.0¢ Sentiment: None 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)