Ss
I have only held for 2 months so i don't know how I have been talking them up for months . You are correct that I said I sold because I thought the price would fall more than the divi , because it was bid up due to divi . The day before divi ann it dropped to 26.5 cents and was falling along with other IO stocks . The divi was ann and it regained strength while other IO stocks continued to fall
Often on Hc people struggle with the fact that I can be positive on a stock and then sell . The market is fast moving and valuations change on underlying metrics . You can't tell me the IO price fall and the subsequent margin compression is not something that changes GRRs valuation
I explained why I was selling . I have also articulated when I would buy back and why.
I don't not like the stock - I simply think current IO prices will weaken more and that GRRs margin may fall to 30-35 per tonne . This halves the margin they were achieving at the start of the year if it happens .
I hold PRU and ROC , if gold or oil fell by 15% in a month I would likely change my valuation on those. The danger in investing is not altering your inputs when these inputs change . That's all
I have done , change my pellet price assumption to circa 135 for the year. At that price 21-22 becomes a safe entry for me. Not suggesting IO pellets will do to 135 or that price will drop to low 20s - just explaining my rationale
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Last
33.5¢ |
Change
0.010(3.08%) |
Mkt cap ! $387.7M |
Open | High | Low | Value | Volume |
32.5¢ | 33.5¢ | 32.5¢ | $367.9K | 1.105M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 358663 | 33.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.5¢ | 77688 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 358663 | 0.330 |
6 | 448804 | 0.325 |
14 | 110530 | 0.320 |
12 | 161877 | 0.315 |
17 | 441469 | 0.310 |
Price($) | Vol. | No. |
---|---|---|
0.335 | 77688 | 3 |
0.340 | 107445 | 6 |
0.345 | 231304 | 4 |
0.350 | 49084 | 4 |
0.355 | 4000 | 1 |
Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
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CHARIOT CORPORATION LTD
Shanthar Pathmanathan, MD
Shanthar Pathmanathan
MD
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