Predictions1 Oct 2020 14:26
Hi Im new on here and would like some opinion . Im here because Ive bought 72k shares costain on the advice of my brother in law. Previous I've only held Royal mail shares on account of when I worked for them and took the option of buying 10k additional that was allowed at rhe time off flotation I cashed them in and made a nice little tidy sum . for the last few weeks I've been buying Costain plus additional shares as the price has dropped I have average of around 42.9 share but with the amount of shares I'm hovering round -1400 to - 3400 k . It's a huge amount for me but its part of a inheritance that i received
It's really worrying me that whats all going on that these could drop further. Please don't mention buffet and diversify into good stock I've read all that and got me eggs all in one basket .
The 2 contracts they messed up on building a road that cost them more than they earned and the power station . I understand that they've had a couple of shares reissue that have watered this down. But apart from the 2 jobs that could still come to a agreement that Costain get some money back after all the government that commissioned the road still have contracts with Costain hs2 and other projects . They have plenty of work or is construction just incredible hard to price fluctuations in prices for materials. My brother said when he worked as a subcontractor for costains he said that the Labour cost are huge plumbers apparently turning up in range rover ( nothing against plumbers in range rover); but highlights huge Labour costs . Im trying to keep the faith maybe bail out and return when this may drop further I really don't know now. My own thought what it's worth it's been hoovering at this price for about 10-12 days now that the bad news could be behind costain and it could start to pick up . Best of luck and hope you give mecm some honest feedback