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Not a hope in hell.
Centro's existing shareholders have been heavily diluted as a consequence of a recapitalisation deal with it's lenders.
CNP - Centro Properties Group
- Thread starter traderandy
- Start date
Centro's existing shareholders have been heavily diluted as a consequence of a recapitalisation deal with it's lenders.
Was actually contemplating investing about $5,000 @ 16c per share into this company with the "hope" it would one day return to its prime value it was once at. Surely if it hasnt gone down by now, it could be one of those "I made it rich by investing in the Battered and Bruised Centro 10 years ago" stories.
Any thoughts, Money going into the bin? let me know
Hope might return one day, but no one know when will that going to happen. May be after 20 years of investment, plus another economic crisis plus all other issues. No one will know...
Yes, I'm afraid that most of the recovery potential has been sucked out of CNP by the heavy dilution that "we had to have." This will now accrue largely to the financiers who have become equity holders with 'Old" shareholders having to be satisfied with a small share.
Disc: Small holding, hardly worth selling.
Disc: Small holding, hardly worth selling.
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I bought 100,000 shares recently at 9.4 cents each, based on the moving average indicators. Sold them at 18 cents each within a couple of weeks. Not a bad profit. Since then they have been trading within a very small range and low volume, compared to the recent spike. They do not seem to be a buy yet, but who knows what may happen.
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About switching to CER, which hasn't been diluted by the banks. US retail sales recovering and not inconceivable that the US shopping assets will be bought by some one, at close to written down value. Aussie centres are the real gem with 99.4% occupancy. Latest NTA 30 cps, and operating profit per unit 8c! Could be a real sleeper this one.
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I agree. The dilution and the long road to recovery by US retail sector should give them a long road to recovery. Yet, somehow, they have rocketed up and touched 31c today. WTF?! Heavy volume the last few days too. I wonder who's buying?
nulla nulla
Positive Expectancy
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Maybe its' the Lowry family looking to hedge their potential losses on BBI preference shares? Maybe it's SGP preparing a take over because they aren't sure of taking over GPT, FKP or VPG.
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Maybe the Chinese are going to buy CNP?? Very cheap at current valuations. Surely the price of property has to recover sooner rather than later? If I had a few trillion dollars I will be looking at picking up a few prime shopping centers at bargain prices, wouldn't you?
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I find it difficult to be positive in the long term on commercial property. Large office buildings are largely dependant on the amount of finance industry/management fat within organisations and retail is dependant on the over-leveraged consumer.
As a holder of Westfield it is my intention to sell at some point in the current rally. That though will be a difficult decision when the day comes as the Lowys have been leaders in their field.
As a holder of Westfield it is my intention to sell at some point in the current rally. That though will be a difficult decision when the day comes as the Lowys have been leaders in their field.
andione1983
Danger Will Robinson, Danger
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i am finding this astonishing... lol i brought these 6 months ago, for 8c and sold out at 7cents, thinking they were doomed, and just looked at their share price today :O is all i can say!!!
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CNP going crazy....
who know whats going on ?!!?!?! could it be someone who shorted it a long while back ??? I am not familar with the process...
Either way I am taking a punt on it and having a trade.. see if we can get a quick buck ...
who know whats going on ?!!?!?! could it be someone who shorted it a long while back ??? I am not familar with the process...
Either way I am taking a punt on it and having a trade.. see if we can get a quick buck ...
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If you believe there is no insider trading then you still believe in Santa Claus. Somebody knows something!!!
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bought in 44c jumped out 51.5c left the profits in to run... see what happens... hopefully finish up with some cash and not a tumble back to nothing ...
prawn_86
Mod: Call me Dendrobranchiata
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Please note that members cannot make buy and sell recommendations as it is against ASIC laws.
As you are a new member i suggest you read the site rules and posting guidelines.
Thanks
Prawn
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Please also note all my trades are pure gambles. I have no trading knowledge and buy purely on speculation when I see frenzied buying..
I don't think that's necessarily so.
Anyone who experienced the Poseidon boom in the late sixties will know that sometimes a market develops a momentum of its own, either for a particular stock or for the market as a whole.
It's true that there was an element of insider trading (Tasminex springs to mind) but the euphoria was largely due to "irrational exuberance", to use Alan Greenspan's famous phrase.
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Rumours of possible cap raising, everyone wants to be on the register. Also, breakoouttttttttttttttttttt
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lol i wish i had held back instead of impulse buying....... Bought shares at 44.5c and now losing money. Hope it goes back up tommorow with all these rumours...
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lol i wish i had held back instead of impulse buying....... Bought shares at 44.5c and now losing money. Hope it goes back up tommorow with all these rumours...
It was a momentum play, buying at 44.5c on the wap UP was a good idea. On the way down = suicide. The long tail is extremely worrisome. Volume may also be exhaustive. 1/5 of the free market cap got traded today.
While it may recover tomorrow, Imo its gonna be an inside day. (Between todays lows and highs)
