........."And so to our traditional "wild card". Pipex Communications, formerly known as GX Networks, is a telecoms company created by one of the entrepreneurs behind Ukbetting, Peter Dubens. It has been assembled from six smaller players. The ambitious company is generating cash for the first time but is still not widely followed in the City. It could be an undiscovered gem".
Missed the late afternoon trades today. Wow!!! a wapping 73million Sale/Buy. No price movement. Interesting times ahead i think. Does anyone know whats going on?
May well be further Institutional buying (or selling). Same thing happened last year when Scottish Widows Investment Partnership purchased 70 mil shares, (Aug 04). It also took a considerable period of time before UBS AG accumulated their 421 mil shares (Nov 04). Therefore would not be surprised if this is a similiar situation. I rather hope that it is institution buying, it decreases the amount of shares effectively in issue and why shouldn't it be? PXC are now a profitable company and significantly underated. As always with PXC patience will be required!
Well, whatever stoicism is - I'll have some of it as well.
Very disappointed with the sp this week on the back of good results and "buy" recs. However, sp has remained fairly level when lots of other company share prices have gone down and for no good reason.
Going to keep holding these and top up when I can.....