That makes zero sense, as an example, you can hold a stock for 10 years and it moves nowhere and then suddenly in one day it goes up 1000%. All of a sudden you have an annual return of 100%, substantially beating the market average. You can't time it, you need to be in to get that gain. Buying and holding has consistently proved, on average, to deliver superior returns. No stock is a trading stock, that's just a justification used by gamblers to justify their gambling (eg trading).
If you could time it perfectly then yes, it would be a waste of time holding a stock that isn't really moving anywhere. But you can't time it, and therefore all you can do is buy and hold while you wait for the company to hit your objective.
Trading update Q3 FY23, page-95
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Last
$2.61 |
Change
0.020(0.77%) |
Mkt cap ! $1.801B | |||
| Open | High | Low | Value | Volume |
| $2.59 | $2.62 | $2.56 | $2.442M | 940.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6098 | $2.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.62 | 193477 | 8 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |