Odd, very odd!2 Dec 2008 17:52
Very odd - I can't understand this one either. I'm not in it, but I always check out the companies that fall dramatically in case there's an over-reaction in trading to news on a given day - for every Woolworths, theres a Taylor Wimpey you know?!! With PPH however, this is already a share that has fallen dramatically for the past 18 months. Aside from a tougher outlook that was predicted for the 2nd half of the year announced in September (which looks to have already been factored in given recent falls) and Morgan Stanley cutting Park Plaza to 'underweight' from 'overweight' yesterday morning, there's nothing to suggest why there would be a further 61.54% drop today. At 4.30, my brokers are showing a buy price of 20p and a sell of 5p, so maybe its a glitch caused by a one off sale or purchase? Anyone else have any views?