Short Term Trade Update: What’s Happening to the CPH Share Price?
Email Sent On: 02-12-2020
In other words, the folks that got burnt on CPH in the past like we did.
It can happen in the market, especially at the smaller end.
In 2019, following a A$122M takeover offer that fell over, CPH ended up saddled with convertible note debt - and the share price capitulated. So close, yet so far...
We generally hold long term positions (see our portfolio here) but on this occasion we decided to try a short-medium term position in CPH at 3c, after CPH had cleared out its debt and appeared to have bottomed out.
We thought it might have the potential to run up off a low base, clear of debt.
Sentiment on CPH was low at the time, however the past appears to be behind it now - especially given the company’s on market performance over recent days.
CPH has rapidly moved from 3c to over 8c on very high volumes, and the stock appears to have some significant trading momentum behind it.
We are curious to see how the company’s strategy plays out over the coming months.
After a couple of false starts, our plan is to ride this momentum over the coming weeks and hopefully recoup some of our previous losses.