IMO keep buying JoanJoan I say. I had a little top up today at $4.71 - I think a great buy given the track record of the company and the quality debt ledgers they purchase the profit downgrade wasn't that big when compared to the sp drop imo. Essentially they buy debts at very cheap rates and collect a healthy % in return - they ran into trouble when they employed a significant amount of additional staff who need to be brought up to speed - simple productivity issue. I could be wrong but with the level of credit card debt in Australia at record levels and staff training improving at CCP then there would seem to be a lot more value in this share.
Just my opinion (and I'm a relative newbie) but I think that this is one of the most oversold shares around - I'm new at this game but when you look at the financial data this share is seriously undervalued.
CCP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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