MWR 4.40% 9.5¢ mgm wireless limited

Ann: Spacetalk goes to the UK, page-72

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  1. 7,244 Posts.
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    Yes I've considered it. My conclusion was that while sales in Aus/NZ could have been better (and probably would have been better if JB re-ordered ahead of Christmas instead of after), Australian sales will likely get dwarfed by UK sales - and that is just one of many European countries. Right now shorter term investors/traders seem disappointed but long term investors like myself look beyond the short term and accumulate on these corrections. UK kicks off in 2-3 months. Other countries may be added by then. Maybe Gleneagle were pumping it as you say. That would fit in with my view that the selling may have started (or been contributed to) by convertible note holders selling to raise funds after being given notice that MGM will draw for the UK expansion. They don't reduce their exposure by selling as they have a corresponding amount of options activated as they give the company the funds. Your thoughts on pumping and mine of who might have contributed to this correction is all guess work though and does not affect the growth in sales to date or the growth of sales here and overseas going forward. If there was a pump at $5 as you say, it is also worth considering we are now at $3, not $5 and as sales continue to grow, the $5 level will be passed. It got there very quickly the first time around and a correction at some point was always going to happen regardless of whether it was being pumped or not. Whether the peak before correction was $4, $5 or $6 was probably partly affected by the big drop in the US market.
    Last edited by chuk: 23/01/19
 
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