OTCPK:INPCF - Post by User
Post by
eljoroon Dec 24, 2017 8:56am
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Post# 27223557
Might buy back in here
Might buy back in hereI sold for a small loss awhile back in the $1.70 range. Just felt this was a huge candidate for tax loss selling (I held it in my TFSA so no tax loss for me) and also wanted to put some more money into a few other plays.
But I'm starting to think the selling here is a bit overdone and may re-initiate a position next week or in the new year.
I'm actually not a huge fan of share buybacks as my anecdotal experience has been that they don't seem to drive the share price up (maybe because, like most individual investors, companies want to buy shares back at as low a price as possible to get more bang for the buck) but the valuation becomes compelling for me around $1.50.
Also, I'm no technicican but I can eyeball a triple bottom around $1.50. I'm also seeing a lot of frothy evaluations on a number of stocks (have sold a few recently for profits) and one can make an argument that INP is definitely not overvalued.
All the best to everyone this holiday season,
El Joro