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ShareShack user name hidden until logged in July 04

Today I experienced the highs and lows of investing in the market with 3 stocks I hold.

Firstly, a great day on Great Boulder Resources, which was up 17% at one point off the back of no announcement. I think it’s going up on hype at the moment, but I’m not complaining 😀.

My luck it will come right back tomorrow...

Then Magellan Financial, down over 6% today also off the back of no announcement, which is unusual for this stock.

So, I checked out Motley Fool and discovered that Morgan Stanley released a report today issuing an underweight rating on the stock and a $27 share price.

Motley implies and I suspect is correct that the changing of the rating to what’s essentially a sell caused the stock to fall to $22.21.

Only thing that doesn’t make sense is that whilst they issued a sell on the stock, they did so with a price target of $27, which is more than 20% higher than the current price!?

And finally AfterPay, up strongly again today, finishing 5% up after being in the red at one point. Again not announcement driven, but broker driven.

Goldman Sachs issued a report at the end of last week with a buy rating and over $11 target price.

The Magellan and AfterPay movements both seem to show the influence the brokers can have on sentiment and the direction of the stock price...
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ShareShack user name hidden until logged in June 21

Stocks I’ll be watching closely today are

1. Blackham Resources- they’ve announced drilling results which indicate a likely increase in resources and reserves to be determined in September. I am already a holder.

2. Great Boulder Resources- they’ve announced great drilling results at their Mt Ven project. I am already a holder.

3. Specialty Fashion Group- their price spiked 9% yesterday off the back of a Livewiremarkets event where Wilson Asset Management said they’d bought 9% of the shares.

Wilson have invested because the stock is only trading on a forward p/e of 9.3x, which is low for a company whose eps they say is forecast to grow at 20% per annum.

They say the group had 5 loss making brands that it recently sold, leaving it with one niche brand CityChic, which apparently is performing very well.

They like the strong online sales of the business and the quality of the management team.

They believe it could be a better quality business than Lovisa- which is trading on a forward p/e of 20x with the same growth.

They reckon the stock could double in a year.

So definitely worth watching as Wilson’s are one of the best fund managers out there.

4. Shriro- I notice there have been a a number of substantial shareholder notices, including from Macquarie.

This share is trading on a p/e multiple of less than 10x. It has almost no debt and potential to grow earnings.

I had held it from $1.00 up to $1.24 and then sold out. Will continue monitoring.

Goes without saying that the above is my own observations and views.

Everyone should do their own research if interested in any of the stocks
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ShareShack user name hidden until logged in June 18
Is anyone following Great Boulder Resources? I bought some a week ago. Was up 15% today..... I think I got lucky as it's not a business I understand very well.

I bought in off the back of the excitement around their drilling of Mt Venn and the great interviews their CEO has given recently in relation to this (search GBR in the Search bar for the posts that contain these).

There's talk of a potentially major discovery.

It would be much appreciated if there's anyone who actually understands this stock in ShareShack who can provide any colour on the opportunity.
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