Why the Cash Converters Share Price Dropped This Week

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What Happened to Cash Converters Share Price?

Shares in retail company Cash Converters [ASX:CCV] fell under 0.85 cents this week. In February they traded as high as $1.17.

Why Did This Happen to CCV Shares?

On the 2nd of March the company released a results presentation to the market. Investors have soured towards its moneylending operations. The stock traded in a reasonably tight range for March. In the last week however, the stock has quite sharply moved down.

What Now for Cash Converters Ltd?

This depends on what type of investor you are. As a trader, I see the stock has fallen below the moving average and is in a strong downtrend. It’s one I’ll avoid for now. Longer term investors might like to consider the business case for the company. Tim Dohrmann over at Australian Small Cap Investigator has done so. You can see that here by starting here .

Callum Newman
Editor, The Daily Reckoning

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Callum Newman

Callum Newman

Callum Newman is the editor of The Daily Reckoning and Associate Editor of Cycles, Trends and Forecasts. He also hosts The Daily Reckoning Podcast. Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with. Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect. To have Callum’s thoughts and insights on the current state of the currency, commodities and stock markets delivered straight to your inbox, take out a free subscription to The Daily Reckoning here.
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