Totally agree that it will go below $1. How far low .....don't really know. All depends on sentiment right now. Will get in them. More pain tomorrow with Yellen testimony. My bet......they will continue with taper....since market already show that it will bounce back. Fingers crossed.
MetalTrader ( Date: 29-Jan-2014 21:56) Posted:
Prediction (SMRT)
27 Jan b4 open- I predicted that SMRT current price $1.19 is far overpriced, and will move downward below $1 before moving towards its fair value (2 digits).
SMRT's NAV ($0.51) with packed cabins, frequent breakdowns required increased maintenance cost. The downtrend will move gradually overtime, which may take months. Besides, the decrease in dividends from 7 cents to 2 cents do not make it an attractive stocks.
Shareholders of SMRT had already received accumulated dividends more than original IPO price- which essentially means they are holding SMRT stocks are of no cost. (As Dividends over the years > SMRT IPO $0.61). As SMRT consists of assets which are aging, it is a depreciating assets (Which will impact the NAV $0.51)
I boldly predict SMRT will fall below $1, and towards the $0.70- $0.80 range in months to come.
27 Jan- Market closed $1.18
28 Jan- Market closed $1.19
29 Jan- Market closed $1.165
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