1 votes
Master
Posted 25 March 2014 - 10:06 PM
Check the last 20 odd posts on this ... sit tight for now.
As Safrican said, sit tight.. it's tempting but I doubt the rest of the board didn't know about the bribery, its unfortunately the way things get done on the african continent and in SA, so if you want to take a punt sure but I'll wait a while if I where you, even if the guy is proved innocent the perception will stick to it for a while me thinks..
Member
Posted 25 March 2014 - 10:05 PM
I sold out of PNC to some profit when the first less favourable results hit (random luck it seems). Anyway, wasn't gijma mostly in the same boat? In the end though they still have some big clients (I think), but the share just never really recovered? Good luck to everyone in this share! This is where the true test of investing comes to play.
Edited by Jonny, 25 March 2014 - 10:05 PM.
My posts are my opinion and shouldn't be seen as investment advise from me or the view of the organisation I work for.
Do your own research before engaging in trades/investments 
Member
Posted 25 March 2014 - 08:39 PM
Pinnacle
Scary stuff today. Down 25% today. Director charged with bribery.
Then yesterday, same director sells shares and today price drops by 500c.
That trade is very fishy.
Is it a buying opportunity?
Check the last 20 odd posts on this ... sit tight for now.
Edited by Safrican, 25 March 2014 - 08:40 PM.
Advanced Member
Posted 25 March 2014 - 08:17 PM
Advanced Member
Posted 25 March 2014 - 08:12 PM
Placed the sell order but after a discussion with my wife will cancel it. She is a strong believer in the zing, zen stuff and says that there was a reason for me not having internet the whole day today.
PNC is after all the biggest Co selling hardware and software to African countries. Not only Gov contracts.
Also, a tax loss is an asset. So not too concerned at this stage.
Very sorry to hear about your PNC predicament Orca. No one knows what the cost to PNC will be in terms of reputational damage. Seeing as your capital is still okay, even at these levels and you are not selling, I would consider taking a short CFD position on PNC for the short term, just in case there is another sell off while they work through their issues.
IG SA40
The Oracle
Posted 25 March 2014 - 06:47 PM
Orca please do not sell....Dont listen to any noise. Let the heat settle. The company has lost 25% of its market cap in one day which is way too much for something not yet proven. Markets dont like uncertainty but in my honest opinion this has been drastically over done. If i were in your shoes, ill just sit tight and watch....
Placed the sell order but after a discussion with my wife will cancel it. She is a strong believer in the zing, zen stuff and says that there was a reason for me not having internet the whole day today.
PNC is after all the biggest Co selling hardware and software to African countries. Not only Gov contracts.
Also, a tax loss is an asset. So not too concerned at this stage.
I started here with nothing and still have most of it left.
Member
Posted 25 March 2014 - 06:35 PM
Orca please do not sell....Dont listen to any noise. Let the heat settle. The company has lost 25% of its market cap in one day which is way too much for something not yet proven. Markets dont like uncertainty but in my honest opinion this has been drastically over done. If i were in your shoes, ill just sit tight and watch....
Tough call to make neh! My worry is that this guy sold his shares 4 days after the arrest, he probably knew that when the **** hits the fan, this thing was gonna slide big-time, and he had to take his cash off the table. And then the company didn't make the announcement immediately after the arrest happened, and this has now attracted the JSE's interest. Should they be found guilty of insider trading... the hole might be deeper!.
The Oracle
Posted 25 March 2014 - 06:10 PM
Agree HDB. I only have 15 000 shares in PNC so it is my smallest investment in my portfolio. I am now trying to think ahead for selling tomorrow but at what price. I bought at R14.70 so perhaps put in a sell order now at that price. Perhaps it will open at R14.00 then I'm stuffed.
Orca please do not sell....Dont listen to any noise. Let the heat settle. The company has lost 25% of its market cap in one day which is way too much for something not yet proven. Markets dont like uncertainty but in my honest opinion this has been drastically over done. If i were in your shoes, ill just sit tight and watch....
HDB
The mediocre teacher tells.The good teacher explains.The superior teacher demonstrates. The great teacher inspires!!
The Oracle
Posted 25 March 2014 - 06:05 PM
Agree HDB. I only have 15 000 shares in PNC so it is my smallest investment in my portfolio. I am now trying to think ahead for selling tomorrow but at what price. I bought at R14.70 so perhaps put in a sell order now at that price. Perhaps it will open at R14.00 then I'm stuffed.
I started here with nothing and still have most of it left.
Advanced Member
Posted 25 March 2014 - 05:53 PM
The Oracle
Posted 25 March 2014 - 05:50 PM
This is not my day. My data bundle finished early this morning and only now got back on after market close. PNC was chosen twice as the stock of the day in HotStoxx over 2 weeks. Lots of praise for Arnold Fourie as one of the greatest CEO's around. Now this.!!!! Had I had internet, I would have sold.
Perhaps there is a reason why I had no internet. We will see over time.
Orca with all due respect because you have had 3 so called solid holdings in your portfolio and they have performed well...Well until this **** hit the fan...
This is the precise reason we have been telling you not to hold so few shares in your port. U hold 3...One messes up and now u back to square one...U must diversify into a at least 10 so any one share problem will not hold you back. Well i suppose you will learn from this.
However on the other hand if u a gambler, just buy more at the low prices and pray this **** will be over and forgotten in a few weeks and PNC goes back to around R18 to R20 and then you actually score!!
But please diversify your port as even a solid blue chip like CML could also mess up somewhere!!
HDB
The mediocre teacher tells.The good teacher explains.The superior teacher demonstrates. The great teacher inspires!!
"Veni, vidi, vici"
Posted 25 March 2014 - 05:46 PM
really sorry for investors(used to have a stake in them while back myself)
keep a close eye, sell off to continue over next few sessions.
“melior diabolus quem scies”
Member
Posted 25 March 2014 - 05:40 PM
This is not my day. My data bundle finished early this morning and only now got back on after market close. PNC was chosen twice as the stock of the day in HotStoxx over 2 weeks. Lots of praise for Arnold Fourie as one of the greatest CEO's around. Now this.!!!! Had I had internet, I would have sold.
Perhaps there is a reason why I had no internet. We will see over time.
Don't despair Orca... always remember that even though Paul and crew have done super well since they started, they do get some trades wrong from time to time... just like we all do (interested in what they have to say tonight, might get more info into what's happening). PNC has done very well over the last few years, and was this year tipped to continue doing +23% annually, but valuations are always based on what's on the surface, nobody knew what the Directors are doing behind the scenes.
I almost bought as well, but was always worried by the cash flow issues associated with PNC. It's indeed a good company, but we have to see how many people feel it's gonna bounce back from this, those might give it some support. But all that hangs on no more bad news coming out!
Advanced Member
Posted 25 March 2014 - 05:26 PM
That's the problem with Small Caps dealing with Govt... too much corruption. But well, lets wait and see, we might end up picking this thing at R5 soon, and then wait for a big boy to take over and turn it around.... i.e if it doesn't get blacklisted and go bankrupt!
Didn't read this post earlier WINH so please excuse what looks like my paraphrasing above. Agree 100% with you, R5 is a distinct possibility....and even then maybe still not a buy......
IG SA40
The Oracle
Posted 25 March 2014 - 05:23 PM
This is not my day. My data bundle finished early this morning and only now got back on after market close. PNC was chosen twice as the stock of the day in HotStoxx over 2 weeks. Lots of praise for Arnold Fourie as one of the greatest CEO's around. Now this.!!!! Had I had internet, I would have sold.
Perhaps there is a reason why I had no internet. We will see over time.
I started here with nothing and still have most of it left.
Advanced Member
Posted 25 March 2014 - 05:18 PM
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
That's how I saw it and bought some this afternoon at 1419.
On further reading there is now also the issue of insider trading that could stick its head up for both the guy that got charged as well as for one of the Fourie's who did a recent deal netting himself R23m. JSE is now looking into things.....
If they prove the guy is guilty of bribery and was acting on behalf of Pinnacle and not in his personal capacity, Pinnacle's days of doing business with the state and any other large organisation that is concerned about its reputation and good governance could be over.
Now that I know more information, 1419 a share is starting to look pretty expensive. I am getting out tomorrow and will buy back when the second drop happens.....if it happens.
IG SA40
Member
Posted 25 March 2014 - 05:02 PM
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
It almost always works neh! 
Member
Posted 25 March 2014 - 04:49 PM
Member
Posted 25 March 2014 - 04:42 PM
Over reaction.
I'm buyng. More.
This could go either way, all it takes is a guilty verdict on these allegations, then a deeper probe will commence. On the other side, if he's proven innocent, we'll see a massive recovery.... question is, do i want to depend on this verdict when i don't know what to expect?
I'm keen on buying though, but i wanna see how it trades on the open tomorrow!
Member
Posted 25 March 2014 - 04:13 PM
Over reaction.
I'm buyng. More.
