I watch this company very closely and yes this is a notable session today. If this price proves itself at $1.13 or better then NFK will confirm it has broken thru the 200 day EMA and therefore indicates a possible break out. I think is very convenient timing ahead of what should be 2 to 3 months of positive news flow.
1. There was no new news today. 2. Norfolk end of year is end of this month 3. From what I have learn't everything is traveling well 4. PPT recent shareholding of nearly 15% supports this view & is tactically positioned along side Maui (20%) - it would be considered slightly unusual for the likes of PPT to take such a large position in what would be considered a slightly illiquid stock, so their strategy is different to that of trading in and out of a stock such as IMD recently. PPT will have completed a rigorous Due Diligence before taking this size position. 5. Also a large "Super" Investment Fund has completed successfully a very rigorous due diligence over NFK as part of a larger Due Diligence process and the ascribed valuation under this process placed NFK at a substantially higher current Share Price value than the recent $1.12 average. The value associated to this fits comfortably inline with my own core Intrinsic valuation range. 6. NFK's forward work in hand now exceeds 1bl and margins were on the improve as I read it in the half year.
To sum up - there has been a fair bit of Due Diligence completed on this company very recently and it has past with flying colours to the extent that in both cases it has brought about investment in Norfolk. If you have money invested in this company you should take considerable comfort that it has recently stood up to considerable scrutiny.
Sorry if some of this is a bit repetitive, but it is as factual as I can keep it when offering opinion. As I said there was no specific news today.
NFK Price at posting:
$1.16 Sentiment: Buy Disclosure: Held
