I think what is holding this stock back is: - Lack of direction re NBN rollout - $15M loss in MD court case - no interim dividend - Tied up with Telstra as a major customer, so changes their will affect the bottom line - Debt still a touch high (although reduced to reasonable levels with cap raising) - It's in a sector that currentley is not the flavour of the month
Investors do not want to tie up money when there is no ST prospect of any of the above changing. The company is close to its lows and will move once a divi is reinstated, NDN direction given or a good announcement...... The game is guessing how long one wants to leave it before buying as once the share moves, it's then harder to decide whether to buy at the higher price. IMO at this level it's a gd buying opportunity and has the potential to do well.
SSM Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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