Silverlady - there may be a few shareholders selling their HIL shares and also subscribing in the SPP to buy them back at a 10% discount. Another problem with HIL is that it is quite an illiquid stock, so if a decent sized shareholder wishes to get out, they severely damage the share price as there are very few buyers. Question marks about HIL paying a dividend in the future as well as their debt concerns means that HIL's short term future, esp. share price is uncertain. I've had a $1.50 buy order in for approximately 3 weeks however I pulled it earlier today. Due to HIL historically having a very high yield, their registry is made up of quite a lot of SMSF and retired people who have loaded their portfolios with high yielding stocks. If these shareholders believe that the dividend is going to be chopped further they would have been selling, as has happened with ALS.
HIL Price at posting:
$1.58 Sentiment: Hold Disclosure: Not Held
