I think people are quite happy to sit by and get in at double the price after the accounts are in. It would still be a PE of 7 and offer a multibagger.
In any case, I can't believe it. Absolute bargain basement stuff and de-risked significantly.
Pure speculation on my part, but I am expecting some contracts before the full year results are announced.
We have had negotiations with the Vietnamese transport authority for some time now, same for the Malaysian drivers license deal. These two are at the top of the list.
Anything more from China would be superb.
...until then it's just sit and wait. Frustrating as it may be.
ETC Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held