With the share prices of many of my investments (including those I recently blogged about) having risen by quite a bit, I decided to nibble at Kingsmen Creatives Ltd, paying 59.5c a share, as its share price remained in the doldrums.
The weakness in Kingsmen's share price today reflects Mr. Market's pessimism. Despite being a leader in the industry, Kingsmen was not insulated from a marked slowing down in the high end retail industry which led to a much lower demand for their services.
Now, 60c seems like the immediate support for its share price. Will the support hold? Of course, I don't know.
However, here are a couple of things I do know which give me some comfort:
1. Company did share buy back in 2015 and 2016, paying 62c to 65c a share. Could they have thought that it was undervalued back then? ......