Does anyone own CCP

[willy1111]

Hi Guys,

Just wondering if anyone owns CCP?

I believe it was one of Peter Spann's top 10 shares he mentioned in his latest investor updates.

I picked it up in July as it met my criteria, anyway. . .

It fell about 43% today

From what I can tell it was because they downgraded their profit expectation from $24M to $17-19M.

 

[BayView]

If it looked as though it was a well run company with a healthy balance sheet before this fall, do you think it would still be worth buying at the cheaper price?

It still may be worth some loyalty?

I mean; a profit downgrade still means they expect a profit; and it's not too shabby - $17-24 mill.

Could be good time to buy more.

 

[willair]

Could be good time to buy more.

LA.Aussie,just have to ask why do you think now is the time to buy?,i would say by the high volumes like today someone knows something ,46.27% change in one day is something i would be worried about..willair
willair..

 

[BayView]

LA.Aussie,just have to ask why do you think now is the time to buy?,i would say by the high volumes like today someone knows something ,46.27% change in one day is something i would be worried about..willair

Not knowledgeable on shares, so I don't know - just asking the question as you sometimes hear of people holding shares that are good, then they drop in price, so they buy a stack more at the low price as they believe in the company.

I would agree Willair; high volume of trading would be ringing alarm bells for me too. A bit like a suburb with 'For Sale' signs on every second house.

Is this one of those scenarios?

 

[natmarie73]

Been reading on this share lately as my boyfriend owns some (he is not a happy camper as he was planning on selling today) and they were recommended as a buy in this months SI magazine.

Apparently this stock is tightly held and thinly traded, with the top 20 shareholders holding the lions share, so I'm thinking they have maybe colluded to drive the share price down so they can snap up some more at bargain basement prices.

Trading history shows quite a bit of funny behaviour in the past according to Aussie Stock forumites. Rivkin has suggested that holders don't exit at this stage, and from the recent ann I can't see any reason why the price fell so much - it seems to be a growing company, with very few competitors and guaranteed profits. I'll be watching it with interest.

 

[evand]

On that quantity volume and size fall in one day it looks like institutional behaviour.Bailing out.