Days like today test your skills or at least show up your lack of them. Some posters though there would be a bounce but I don't think so.... it certainly doesn't look likely right now.
Its dropped to 48-50c and flatlined. ..though it has just dropped a bit further to 45c. To be honest I'm not sure what to do with this one. Based on eps for Fy18 being much the same as FY17. I reckon a valuation of 50-55c holds, purely based on a pe of about 8 for this stock, which given the disgraceful behaviour of the directors is about right. So the question is whether to hold on for the longer term or cop it on the chin and sell. Selling now feels like a panic decision, but give a valuation of 50-55c, why hold on with the bunch of schmucks (Cohen and his Cohorts) that make up the board and executive of this beast, maybe then the rational decision is to sell...that is selling now is not a panic decision. Fortunately I don't have sheep station on this one...but I feel for those that do. You have been absolutely fleeced.
I have to say more and more of my money goes into global stocks, because of the shenanigans (such as this) that go on, on a far too frequent basis, on the ASX.
FIG Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
