Contact Energy: Up or down from here?

The old chestnut rears its not so ugly head again.

Contact Energy.

I have traded/owned this stock since its was IPO'ed in 1998 at $3.10 - Around about its present NTA.

I have 30,000 shares of this in the portfolio. The majority of which i purchased this year during the depths of this govt-led recession. I have held the balance since 2011.

I have traded this stock up and down from IPO right up to over $10 - yes it was that price in the late noughties up to this year, 2020 when it briefly hit just above $4. It has gone up steadily since then - albeit for a brief couple of months when it lost about a buck overnight when the whole business over Tiwai Point occurred. 

It has been going up recently - on increased VOL - because it may soon be included in the New Zealand MSCI index. I have no idea whether it has been in the index before.

It MAY be worth a punt from todays close $7.85 on $10.5m worth of shares if you going for a short term thing.

It may even be worth getting for your portfolio as it is currently getting 4.97% net and you don't know what the reaction to covid-19 is going to be from the morons that Govern us.

Contact Energy is one of the safest bets on the market in these troubled times - and every time there is 'troubled times' Contact has been there.

The MSCI index result will be announced on November 11, with re-balancing occurring on November 30.

You dear reader may want to swing on this one.

DYOR!!

CEN @ Share Investor

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