Nothing like a new housekeeper to clean out the closets. Understandably people are wondering what else is still hidden and so holding back on investing. I took a gamble and used some ready money to buy in at 390 this afternoon. Not too much but enough to keep me watching the company. This is now a new 5 year low.
One of my advisors has a Buy, the other has a Hold. Both said yesterday that they think the market is over-reacting but I feel cautious and so only making a small up-take for now. Previously, I felt the valuation too high for my liking, recognising that GXL is principally in the retail sector while partially in health services (for animals of course).
GXL Price at posting:
$3.90 Sentiment: None Disclosure: Held