Kathmandu Holdings Ltd [KMD.NZ] shares have had a poor run since its media/broker hyped November market debut, a few cents above the $2.13 IPO price. The stock reached an intra day all-time low of $1.78 yesterday on bad news before finishing at an all-time low of $1.82 at market close - down 17%. The share price reached an all time high of $2.56 in mid April.
I have been brutal in my criticism of this company over the last year or so for one reason or another and cant see why so many invested in the IPO.
Having said that the company does have some value. Not the value calculated in the IPO but it could be getting close to something worth looking at soon.
Put it on your watchlist because the company has more bad news to come and therefore the stock could be under share price pressure.
It is a guess but value might be found in the $1.20 -1.30 range.
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From Fishpond.co.nz
Buy Every Bastard Says No - The 42 Below Story, by Geoff Ross & Justine Troy & more @ Fishpond.co.nz
c Share Investor 2010
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