HIH was a joke of a company - they didnt just have problems.. they covered them up with lies.. no revenue to support their business.. thus died in the end. i would not put CDR in their shoes.. CDR actually has very strong fundamentals and is growing as we speak.. market just is wary - rightfully so.. but if volante issues are passed (as mgt have ensured) .. there should be no problems going forward. SP will stay below $1 until CDR can redeem shareholder/market confidence with meeting EBITDA for FY08.
Regaining confidence is a long process.. however there is ST ground to be made as 32c is still cheap as chips. I still think 55c-60c is a fair price for CDR to settle in the coming weeks until more news comes out.
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
