RE: Is this a buy yet?18 Nov 2015 21:00
Captain_Mogan, I thought this was a buy all the way down from the 60's, so my opinion is useless. I have more in TUNG than is sensible, but have taken to leaving orders in at 41.5p. Sometimes they fill, sometimes not.
The only way that this can be a bad buy, is if TUNG goes bust. Will Seimens, Kellogs, GSK, Tesco and all the others want that to happen? Correct, they won't. I guess that's why there are the recent video testimonials, all designed to aid the marketing effort. They will also be upgrading to analytics, incorporating new territories and doing "remaining" supplier on-boarding, where smaller suppliers are invited to sign up, or stop being a supplier.
Provided that TUNG doesn't go bust, shorters have to buy back 6m odd shares. My average is about 55.41p now and they won't get any from me. I may make it my goal to hold onto them until the shorting finishes completely. I'm sure Odey want a significant premium on their last, massive buy at 80p. Ok, they sold 1m recently, so they might want even more on their remaining holding.
Basically, Mr Truell and Odey have sunk tens of millions in this and I think they have confidence that they will get the it money bank, and then some.
Short answer, this may or may not be the bottom, but it's near enough for me not to worry about buying at this price.
Only my opinion.
GL