Good Post Joe Wolf .
I agree with your comments if the EBIT is on forecast in the full year , the second half result will e very good and swing the momentum pendulum .
I think the reason for the selling pressure is coming from a few areas but primarily from the placement broker selling out after the company came in with a slow first half year result , and negative cash flow quarter .
Tax selling is adding to this and as a double banger .
Those with buy entry points of 0.35-0.50c are taking tax losses as they fear it could go lower , and other sellers are those that bought a few years back at 17-22 and are locking in on the profit taking the profit now to offset it against other positions they have in loss .
I sense many of these will come back if the full year is good and the sell side would have dried up
I am pretty full up in PGC as well but did buy a few more at 26 and 27 as they in my view are just to cheap at these levels to ignore the opportunity .
I really think Cake in 3-6 months will be celebrating the decision to buy as the company does reach its forecast , pays a further .01c dividend and starts to get re rated again as it did when it rushed up towards 0.50c prior to the cap raise and LR acquisition , which if you read the quarterly is performing above even their internal expectations
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Good Post Joe Wolf .I agree with your comments if the EBIT is on...
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Last
47.5¢ |
Change
0.010(2.15%) |
Mkt cap ! $786.2M |
Open | High | Low | Value | Volume |
46.5¢ | 48.5¢ | 46.5¢ | $645.1K | 1.366M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 55000 | 47.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
47.5¢ | 147836 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 55000 | 0.470 |
2 | 8587 | 0.465 |
4 | 85331 | 0.450 |
1 | 20000 | 0.430 |
4 | 59044 | 0.420 |
Price($) | Vol. | No. |
---|---|---|
0.475 | 147836 | 2 |
0.490 | 23 | 1 |
0.495 | 51404 | 2 |
0.500 | 561275 | 11 |
0.510 | 109009 | 2 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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PGC (ASX) Chart |