As Len owns a majority of AGI stock, being 60%, that seems to be far to much for a public company. Now listed on the All Ords, Len selling down some of his stock would mean more liquidity and hence should result in a spike in the SP.
AGI has great prospects, so getting other substantial holders on board would be the best thing for it. Not only did the last reports show the first ever profit, but further progress with the Americas etc.. has doubled in terms of profit %.
The recent decline in the SP is normal, as after such a rapid increase, it was only a matter of time for the SP to decline and steady. Not to mention the entire market has been rather poor recently.
AGI has not had an announcement for some time, so I feel one is coming. For me AGI is a long term buy, and it is open knowledge that the next financial reports of 2012 will be similar to the first half yearly. Not to mention the increasing advancements of research and development, which of late has been overwhelmingly successful.
Expanding internationally continues to rise, and the SP is already fast catching that of Aristocrat. Remember, it was not long ago (around Mar 11) when the SP was as low as 20c... Other market analysts such as Ebeling and Heffernan project a SP of at least $2.50 towards the end of the year, and several other reports, i.e. the AFR only have praise for a company that continues to impress.
I am looking forward to where AGI will be this time in 12 months time, after several positive announcements I am sure.
Good luck to all!
AGI Price at posting:
$1.37 Sentiment: LT Buy Disclosure: Held
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