Bought this at $38.50 a fortnight ago, then sold for a little below that on Wednesday this week. In the absence of positive newsflow, the tail end of this week made me very nervous, but to see it fall to below well $30 is pretty astonishing.
As I understand it, there are concerns about the contribution to earnings made by development. These earnings may be difficult to maintain in the near future. That said, this company will be one of the main recipients of the Rudd Government's focus on bringing forward infrastructure development.
Hard to say if it's worth buying into at these levels. I'd always thought that under $40 was brilliant buying. Thoughts?
time to buy
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