PNV Media Thread, page-417

The shorts are being encouraged...

From the AFR report at Sohn Investor conference:
"Sohn stock pick: Regal’s Phil King - SHORT PolyNovo (PNV ASX)Vesna Poljak
There’s a lot of expensive stocks out there and one only has to look at the ASX: If the FAANG stocks look toppy trading on a multiple of 5 times sales, what then to make of the Aussie tech stocks trading on 13 times?
Well, “the biggest bubble in the Australian stockmarket today is Australian biotech,” King says, christening them the PPANCs (PolyNovo, Pro Medicus, Avita Medical, Nanosonics and Clinuvel.)
Regal is actually long Avita, but “we needed the vowel”. Healthcare stocks in Australia are prone to bubbles, King warns. We don’t have the big pharmaceutical companies like Europe, and Australians aren’t that good at valuing them.Phil King of Regal Funds Management.
Passive investing has surely helped fuel the rally, as four out of five PPANC stocks have joined the ASX 200.PolyNovo is singled out as having the most downside. “We think the competition’s well established, the company’s still losing money and it’s never delivered on expectations,” King says, adding: “there’s no room for disappointment”.Mark Twain once said a mining company is a hole in the ground with a liar on top.An Australian biotech is a medical lab with a good salesperson on top."

This tells me 2 things.
1) I will never use Regal - short sighted value investment
2) Why there has been a short push lately.

Might hold for a while until they get it out of their system...