Another preemptive Share Price Alert, this time for The Warehouse Group Ltd [WHS.NZX].
The stock price has taken a dive of 23c over the last 2 weeks of June and finished trading down 2c to close at $3.43 at close of business last Friday.
The stock has previously found support around these levels at least 5 times over the last year (see 1 year chart above).
In an interesting turn of events late on Friday though, incoming CEO for Woolworths Ltd [WOW.ASX] Grant O'Brien, let it slip at while addressing members of the New Zealand Food & Grocery Council in Auckland that his company was still interested in acquiring additional shares in the big red retailing icon.
This of course changes everything and while the spectre of the Warehouse has been handing over its head for almost 5 years, this new indication from one of two possible bidders ups the ante again.
The two bidders paid between 5-6 bucks approx for their respective 10% shareholdings, so any value from a bid from Woollies would have to come north of the higher figure.
Buy on short-medium term speculation, for a tidy profit.
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NEW - From Fishpond.co.nz | Think Bigger, By Michael Hill
c Share Investor 2011