James RS Personally I think that you are over thinking it. With...

James RS
Personally I think that you are over thinking it.
With GXL they were always an over valued stock, trading on very high P/E ratios etc etc - for a very long time - and this frightened many people off investing in them.
However there are two key ingredients to a good rollout I think - 1) large capacity to keep expanding (i.e. start with low market share and fragmented market) and 2) strong management capability to keep delivering good deals and control company financials during high growth period.
Easy to see risks and get frightened out.
But AMA still have the above fundamentals, so I will be staying for the ride.

I also find it strange that you are still concerned about the big placement earlier this year. Surely this deal just announced justifies its conduct? And will provide the earnings boost for the new shares now on issue....? The size of the placement is a plus - it shows that the Company has the instos on board and big backers willing to put money up in advance of deal - in effect, backing management to deliver.

Anyhow.... you've sold.... so on we go...
You certainly held AMA during a sweet spot.

Cheers
Gosouth