With Contact Energy Ltd [CEN.NZX] putting on 50c over the previous 2 weeks we may have turn a corner with buying far outselling. Most of the rise has been over the week.
Buyers have seen the power of this monopoly come to the fore with its near 25% of the market understood.
What they may not have seen was tucked away in the current Annual Report is the net asset value $4.24.
This values the assets in the company at $4.24 and the goodwill and the like at just over a dollar. You would just have to question that last one because no matter how many employees a company has there has got to be more than a buck for the rest of the business.
There maybe other reasons why the share is finally moving - takeover talk included - but I will put it down to the low price put on management, their new boss has given people at Contact a boost.
That will do until a bid is made for them, it will.
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