Some 9 years ago PPT decided to quit their holdings in MCP and instructed their broker to liquidate at any cost. Their indiscriminate selling pushed the price down from around $3.00 to 40c in just 6 short months.
Their selling had no real logic, except maybe for the fact that management has decided to quit the stock at any cost.
I bought MCP then at about 50c and ever since I have taken PPT as being my 100% sure bet contrarian punt.
That is, their holding liquidation will depress the stock price, not on fundamentals, but on volume of selling.
As such, I had already held PRT and have now doubled up at these levels. Let's see what happens as I reckon the current price of PRT, yield and corporate activity appeal make it a good punt.
Some 9 years ago PPT decided to quit their holdings in MCP and...
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