I bought some in the float which was pretty poor buying. I think it is a bit of a BNB cash cow. My understanding is that they had to make an aquisition by a certain date to trigger a commission deal to BNB. The bought into Eircom right on the death knock and the market saw it as BNB influenced.
That said the Eircom SP is has remained around what BCM paid. There were talks of a takeover deal on Eircom last month that has since fallen through. I think at these levels it is a fantastic buying opportunity but the market is afraid it may be BNBs cash cow.
Also today is the last day of trading on the partly paids and the second instalment of $2.50 is due. This may have tipped a few players out of the stock
BCM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
