GREY:BNKPF - Post by User
Post by
tinman8on Jan 12, 2012 9:00am
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Post# 19395354
What's happening with BKX -
What's happening with BKX - I dont pretend to know the reason for the recent upward moves on high volume. However, there is no doubt in my mind that the stock never deserved to trade much below around $3.35 - and even that was only justified by the overall general market fear over Europe - not specifically about BKX itself. The second leg of the decline was triggered by tax loss selling.
As far as I am aware the fundamentals for this stock are no different than they were a year ago when the SP was arond $5.75 +
The recent uptick may simply reflect the realisation that the stock has been grossly oversold at the end of 2011.
Whether market moving news is already in the pipeline I dont know - but I definietly expect some good news before May this year as the delayed equipment comes on stream - and I did add to my position at $1.53