I have put the price rise today down to the fact most shareholders receiving their notices .
Most of those holders would have an average price of $2 ++.
Some of these may have taken the chance to average down given the positive spin the chair and the board had to hold Boon within his position .
That in addition of reading the excellent resume that Andrew Price has , may convince others he has a good chance to actually succeed in turning around the ship.
Off such a low base , it really doesn't take that much capital to see the stock higher and the board did state they believe they are ahead of schedule on the restructure and the 2nd half could return to a profit .
If that is the case with $4,500 million of revenue that is a hell of a big business and a very low market cap .
I am happily in the price camp , but acknowledge that it is good the current board are of the feeling some of the hard yards are behind PPX , if that is so and Price can speed up the process, in my opinion that is why there is more buyers than sellers and the price is moving higher .
Best of all in my opinion is that the private equity firm is no longer in the game and the ridiculous price they tried to offer to steal the business .
SRS Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
