I don't pay much attention to this company share price wise. Freightways Ltd [FRE.NZX] has been the 3rd largest stock in terms of purchase price in the Share Investor Portfolio and I have simply held for the last 6 -7 years and collected the healthy dividends.
The share price reached lows of just above $2.60 mid 2010 (see 3 year chart below) and plumbed those depths once at the end of 2008 and then again midish 2009.
The share reached an all time high of just over $4.75 at the beginning of 2007 (see 5 year chart below) and since then has been up and down more regularly than Charlie Sheen in a Hollywood whorehouse.
Over the last 2 months though (see 3 month chart at top of post) the stock has added 39 cents to close at $3.29 today. This is an increase of about 14% and the share price has broken through a barrier of around $3.25 last attained in May 2010.
Either there is good news coming up in the coming 2011 Half Year profit announcement to be made in mid February or the market thinks the company is onto a better thing as people are perceiving the economy is going to do better in 2011.
If you have been looking at buying it might be wise to wait until after the result because I don't see that the company would have done well enough to justify such an improvement in share price.
Look for weakness post Feb.
Share Price Alert
Freightways @ Share Investor
Freightways Ltd: 2010 Full Year Profit Analysis
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Freightways Ltd: 2010 Half Year profit commentary
Freightways Ltd: 2009 Full Year profit commentary
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