This is a short note – when Element Fleet Management (TSX: EFN) blew its February quarterly report and the stock crashed (and continuing a downtrend that has went on for years), it got my interest. I even put the stock on my quote monitor and watched it. I never pulled the trigger on it, but I do remember staring at the bid-ask when it was hovering around $4 and thinking to myself “this would be a pretty good time to buy”.
Specifically I remember the day in March where they spiked down on a panic dump and thought to myself that the stock would trace down to roughly those lows and I’d be able to get some shares at $3.25-ish. Of course the downward momentum will continue indefinitely! They haven’t even appointed a new CEO yet!
As you can see from the 1-year chart, oops! My fault for being such a cheapskate.
Anyway, this one is now in my “missed opportunities” folder. Won’t be the last.
I got some at the high 4’s and low 5’s. But isn’t it kind of getting ahead of itself now?
In the category of unloved without a CEO what do you think of Altagas?
A private analysis (when it was at $23) had the last sentence of… “This will go down further. There is a price I may get interested but not at $23/share.”