I had a chat to a Full service broker who said that people wont be jumping into anything right now that has not got a deep history of returns. He pointed me to about 4 stocks that listed that have pulled back since around 8 February. MP1 , SLC, CVT - It all had big run ups in early February on good expectations but have now pulled back pretty sharply. He pointed to a company Vmoto - code VMT which has the growth path and has now got out of a loss making venture so underlying earnings for their electric cycles is growing and recently launched here. The price has pulled back from a high in December of 37c to 29c today.
Really this end of town is going to have to wait for the volatility to ease. I think Perseng is no different to 50% of retail clients right now. The reality is that we will have clarity after June and we all forget that is only 4 months away.
I suspect that there are big orders but that BP are able to match those with clients that are reducing so you get the large bookover between parties.
It will all change when the world returns to normal.
PGC Price at posting:
64.0¢ Sentiment: None Disclosure: Held
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