RE: Any ideas?21 Feb 2021 16:48
Are the selling of Viridor, the apparent lack of a fully formed strategy of what to do with the majority of the proceeds and management change around the same time factors here? Is the market waiting for some clear direction from management as to where PNN are going?
There was a report last November of them considering a takeover (of rival Southern Water Services) but I'm not sure what's going on. Could PNN do a better PR job? Could they provide a bit more on what they are doing with the cash they've piled up?
I only bought a small amount here last summer (a good time to sell, a bad time to buy). I have thought about averaging down a few times but PNN have just not inspired me to do so. I'm down 22% as it is and I'm not convinced it's reached the bottom yet but hope I'm wrong.
I'm going to hold on to the next trading statement (end of March) then make a decision. My gut says PNN should be fine but my head may tell me my money may be better elsewhere. Perhaps one my AIM Sucker Stocks which are not making a profit but whose share prices have performed better than PNN since I've owned them. Is it me or is there something a bit illogical with this Stock Market malarkey?