SWM shares-- 20% increase!! yes
- Thread starter Mick C
- Start date
Hi,
Not property related...but wanted to see if any another members bought SWM ( 7 media) stocks and if they are selling or reckon there are more good news to come? - Today SWM shares went up by 20% today!!! + 8% dividends....
Regards
Michael
Saw that.. when I saw it as low as $2.55 I thoguht wow, 45c Fully franked dvidend.... !!
Or maybe you could ask, how many people bought it at $4.17 in early July and have suffered a 25% loss given current price of $3.09
Price action on the open was due to shortcovering.
Once the results were released and were not 'that bad' all selling interest evaporated.
It was amazing watching the progression of buy prices just before the open and shortsellers scrambled to exit/reduce positions.
Personally i would not be basing a decision on owning SWM on receiving 45c per share dividends in the future. Ive cut my own expectations back to around 24-26c, at least until there is a confirmed economic rebound.
Once the results were released and were not 'that bad' all selling interest evaporated.
It was amazing watching the progression of buy prices just before the open and shortsellers scrambled to exit/reduce positions.
Personally i would not be basing a decision on owning SWM on receiving 45c per share dividends in the future. Ive cut my own expectations back to around 24-26c, at least until there is a confirmed economic rebound.
