XRO
Yesterday, XRO plunged way below my top up price at $41.41 which I thought was too low to quote! In fact, it plunged even lower. However, I don't have spare money as I have to keep some cash. As a consequence, I had to sell another stock although it didn't make up for the purchase as GTE had plunged a long time ago!
Suddenly today, XRO jumped up by $3.51 to $43.53 at close so it wasn't a bad buy after all! Nice to have luck on my side as there was no announcement to account for that other than one or more keen investors. Maybe, it was like most of my tech stocks today, following NASDAQ performance yesterday.
posted by Club Mulgoa @ 9:31 PM
2 Comments:
For a while now, I felt foolish buying XRO. Cautious 'experts' have been warning that its PE ratio is too high. Yet, others suggest that the sky is the limit for this stock, nearly, as its modus operandi for its accountant package uses the cloud.
This equity is possibly the biggest of my outlay of all stocks. For unknown reason after the recent plunge, it is starting to move up and up. However, it is a very volatile stock so I assume there are a few big investors who are toying with it.
I recently told a friend that this is a risky stock to invest due to the high PE but I am still topping up on it. Never preach what you don't practise! Only about a fortnight ago, it was below $39, and today, it went over $46.50. Why? Please ask Allah...
Finally in the last week, my holding in XRO has turned green. With Wall St rising on US Friday, I expect a nice jump on Monday. However, good outcome will depend on their 6-month financial update.
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