Axon - time to buy???

  1. 9,081 Posts.
    I believe so for the following reasons:

    1. Diector Alan Finkel has been buying stock this month - over 8.5 million shares have been added to his holdings.

    2. Tax loss selling may end sooner rather than later as savvy investors pick up the stock cheaply prior to the anticipated July rally when fresh funds will find their way into AXN

    3. Huntley (SCG No.292 - 12/6/02) maintains that "a hard valuation on underlying fundamentals before R & D and after making allowances for AXN's strong balance sheet cash position gives a valuation figure above 60 cents" He goes on to say that "substantially higher figures are available on discounted cashflow from sales projections after the product launches"

    4. Those who wait till the next fiscal year to purchase may miss the boat as this stock can run hard very quickly. The "bottom" is, I think, very close now.

    5. Another director has "gifted" 60,000 shares to each of his kids .... another indicator of good longer term projections for the stock?

    As always, do your own research, but I am happy to buy the stock at current levels of around 29 - 30 cents
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