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 .
Editor, The Daily Reckoning