Still haven't heard any news/rumors on why the sell off in API. I have been waiting patiently for the SP to come off its highs to buy back in but am the victim of my own desires: don't want to be catching a falling knife. Theories of persistent sell downs by instos doesn't ring true.
Main peer, SIP, hasn't had the SP uplift that API has and is underperforming in comparison. DPS is remarkably similar for both, though API has a much better EPS, suggesting API is spending more money on business growth
A preso to the NY crowd didn't go down well. It may be the ST appreciation in the A$ has stymied any buying interest, but I suspect it's a lack of a distinct growth strategy over and above just taking up new retail outlets. There are a couple of glaring growth opportunities that aren't being addressed by management. API needs a new trigger for SP growth.
Still haven't heard any news/rumors on why the sell off in API....
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