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Now, I just want price to go as low as possible, so I can average out my initial purchase costs.
The Company is still good BUT market sentiment (i.e. major investors) is just not paying any attention to LBS. Without major investors, the price will stay stagnant and eventually after a while retail investors will get nervous and start selling, which is what is causing the price to keep dropping.
Majority of buyers trading this stock right now are retail investors only, which can evidently see that retail investors have no momentum affect to push up the price.
I am currently still hanging on. So far performance of the Company is still good and there is still buyback or director purchase own share. These give some assurance, though don't know have to wait for how long...
Hold some extra cash on hand and wait for the September federal rate announcement. Not to be pessimistic but I believe the downtrend of share price will be continue. Recently, the company and the directors keeps buyback the shares had showed its confidence towards the lbs future.
Especially the upcoming of fourth quarter report might be outperform if the transaction of motor circuit is completely done without any intervention. Special dividend might be given upon the completion of sales as the announcement did not mention any details about how the money received will be utilise. The lack of details in utilising the money are believed to announced after the money were completely received from the buyer.
Recently, I will continue holding the lbs until the fourth quarter report is out if only the economic and market is still in normal condition. Don’t try to fight with the market. If the announcement of federal rate is out of my expectations, I would cut loss some and seek for a better position to re-entry since lbs had its value inside.