On 25 September, I wondered in a blog post if I might be given a chance to pay 50c for what was worth a dollar. I am referring to OUE Limited's stock, of course.
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Twin Peaks. |
Although already trading at a hefty discount to NAV back then, I was concerned about how its luxury condominium project, Twin Peaks, could be a drag on performance. Also, looking at the charts then, selling pressure showed no sign of weakening. So, I decided to wait.
Today, I became a shareholder of OUE Limited as my overnight buy order at $2.01 a share was filled.
As the NAV/share is $4.04, I have paid 50c for what is worth a dollar. My wish came true.
It is a very small long position as sentiments are still very bearish and if the $2.00 psychological support should give way, we could see lower prices......