This forum is a logic-free zone. If you question Webjet’s chances of an amazing recovery, you’re a downramper. If you extol the company’s virtues you’re just pumping. With so many traders battling with investors about the likely direction of the share price, combined with the large paper losses many are holding, emotion has trumped reason.
I would find it all amusing or bemusing if I wasn’t heavily invested in the company. The idea that makes me laugh most is the belief held by many posters that retail investors on HotCopper can influence the share price one way or the other. Comments like “He’s just downrampimg so he can buy the shares cheaper” are ludicrous. Sure, if the downramper was buying shares directly from the person he’s influenced to sell cheaper, that would be the case. But we all know that’s silly.
For those who think the UBS price target of $5.35 is a reflection of general analyst sentiment, have a look at the other analysts’ opinions in this recent thought bubble.
Personally, I don’t think analyst opinions are worth anything as they’ll quickly change them according to share price fluctuations. I only share it to show that UBS is the only one thinking an upgrade is in order. Probably because they’re selling. I think Webjet has a chance to survive, recover and prosper (that’s why I’m still holding) but it’s all based on the first thing: survival.
In the meantime, put this stock in the bottom drawer, don’t fret about the daily price movements unless you are selling or buying soon, have a walk on the beach and enjoy your coffee.
WEB Price at posting:
$3.34 Sentiment: Hold Disclosure: Held
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