Can anyone tell me the reason for the fall in price today? I can't see an announcement, div or news? I had a buy order sitting at $1.26 which got filled, and I'm unsure of whether to hold or sell before it drops further.
True, it's why I placed the buy order where I did. Guess I shouldn't second-guess myselfJust had a quick look at the weekly chart, this seems to have done this spike down at least four times over the last year and not around the dividend time either.
It then seems to resume the steady uptrend again after each one !
Some stocks have a predictable personality, lets see if it repeats
For me SSM has always been problematic, my business sub contracts to SSM and I think its the old problem of "scuttlebutt" - I could never invest in a business so poorly managed, but most investors would have no idea of how incompetent SSM are. I remember this was also a problem with companies like RIO & BHP when I worked for them, I quickly realised that the profit margins must be extraordinary when structural incompetence at the level these businesses struggle with still allow them to be profitable. If you were half as incompetent running a small business you would be bankrupt in 6 months!
Am I in your sights @Ann ?
Don't worry, I've already conceded my picks are dogs. The only reason I picked them was to see what happened when they got into Index fund buying range. Most of them have dropped back now. But, try your hardest. I'm shorting all stocks you pick on
Interesting you say this galumay. I see on the 2/1/2019 titled 'Cleansing Notice' they issued without disclosure to investors an extra 40,189,126 fully paid ordinary shares into the market. 401.4m is now listed as quantity of shares of SSM on ASX. All quite legal of course. Nasty for investors though. Quite a major dilution of shareholder value I would have thought. This is really likely to be reflected negatively in their SP I guess.
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Hi Ann,
The issue was made in partial satisfaction of the acquisition of Comdain Infrastructure Pty Ltd, a provider of engineering and asset management services to the gas and water utility sectors in the Australian eastern states, which (in theory) should not result in a dilution of the existing shareholder value.
See ASX & Media release made by SSM on December 3, 2018.
Cheers,
Rob
Hi Ann,
The issue was made in partial satisfaction of the acquisition of Comdain Infrastructure Pty Ltd, ...
That is the most ridiculous business name. Please tell me if your brain did not read "Comedian Infrastructure".
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