Thursday 10 January 2008

Centro investigated by ASIC

After I sold my recently purchased Centro shares for $1.02 they started going back up. Even while the general stock market tanked in the past week, they stubbornly stayed above $1.12, so it looked like I'd got cold feet and sold out too soon. However, today came the news that the corporate watchdog, ASIC, is asking hard questions of the Centro management. Apparently they suspect that Centro is understating the severity of the trouble they're having refinancing their debts. So today the Centro stock price plunged 25c to close at $0.86.

Related Posts: Bought Centro, Sold Centro

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