Uffffffffffffff so much down. I checked at 2pm. it was arround .230 as it is usually but now at .20 and at .20c someone is selling arround 20 m shares. Does any body know, will it go down more or come back again. new.
Dunno whats going on here, Im tempted to jump in and try pick up some at 0.2 tomorrow morning, but having no idea what has happened im not too sure.
edit: Seems there was an elders general meeting today, I cant seem to find any info on it though.
Approval of conditional placement and SPP, don't know what that was a key reason to sell though. Picking bottoms may be quite dangerous here.
Approval of conditional placement and SPP, don't know what that was a key reason to sell though. Picking bottoms may be quite dangerous here.
Mate I tried to work this company out many years ago and couldn't.
Its all a bit incestuous.
I would stay well away as stronger operators are buying and selling constantly.
Its like a one legged line dancer , you just never know what he's going to do.
gg
No doubt you guys are talking this down so you can get your allocation above the $20K SPP... although I must admit the chart looks bullish only if you turn it upside down.
Mate, I haven't even looked at the chart.
You might be better sticking to hotcopper.
That is an honest opinion.
I haven't looked at elders for yonks but will have a look at the chart and let you know my opinion.
Nobody "talks down" stocks on asf.
Comb your mullet and observe.
gg
No doubt you guys are talking this down so you can get your allocation above the $20K SPP... although I must admit the chart looks bullish only if you turn it upside down.
I have not seen a dog chart such as this for a long long time.
Well Garpal, I'll give you a tip. I'm buying Elders!!
Why? Because fundamentally it should/will be worth 15 times next years earnings which you'd think/hope will be around $50M NPAT - The market cap will need to quardupule in the meantime....
Charts Schmfarts.....
See you back at this thread this time next year....
But what do you do if its delisted ??
Well Garpal, I'll give you a tip. I'm buying Elders!!
Why? Because fundamentally it should/will be worth 15 times next years earnings which you'd think/hope will be around $50M NPAT - The market cap will need to quardupule in the meantime....
Charts Schmfarts.....
See you back at this thread this time next year....
I'm have the option of purchasing it at 15c thru the SPP and I am heisitant. New lows on a massive downtrend? Not my cup of tea.
@skc, its always the stuff that screws up that you get full allocations for... I think I'll dip my toe into this one for a punt, but certainly not the full amount!
I was expecting ELD to do a VBA... fall down close to the offer price just to scare some people off, before being re-rated as a going concern rather than a near bankrupt entity. The fact that QBE bought in was supposed to be a big thumbs up.
I was not hesitant at all on the SPP until today's price action (and your post. Damn you Skyquake !!). Surely the vote was not unexpected so don't really understand the high volume sell down. I think I will spend the weekend reading the announcements and the prospectus further.
And yes, it's a massive downtrend alright. But for a quick profit... the potential may be still there.
Will it quadruple? Who knows? So many stocks have done that so why not ELD? I'd say more stocks have gone up 4x from the bottom than those that have been delisted. So at least statistics are on your side and you get a positive expectancy
FWIW charts are no good at picking bottom until after they form.
Well Garpal, I'll give you a tip. I'm buying Elders!!
Why? Because fundamentally it should/will be worth 15 times next years earnings which you'd think/hope will be around $50M NPAT - The market cap will need to quardupule in the meantime....
Charts Schmfarts.....
See you back at this thread this time next year....
Actually now that I thought about it, I'm gonna see if I can get some borrow on the stock; If I can then I'm gonna apply for lots. I assume that big seller + all the other factors would have scared ppl (lol like me) into reducing their application or cancelling; giving the SPP a potentially better allocation.
Won't be holding long term, too many other corporate actions out there!
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