Stock to Watch

  1. 10,605 Posts.
    lightbulb Created with Sketch. 26
    Big action happening here at Challenger (ed) Investments. Kerry Packer has finally said enough is enough, and together with several others has taken up most of a $75 million equity raising and joined the board!!

    This is big news. KP hasn'r put himself on the board of anything since he last had to put the wind up WBC when he owned 10%.

    I would say Bill Ireland the CLI CEO will suddenly be putting in considerably longer hours for starters.

    But the main point to note is that CLI was a market darling and KP has a huge investment here.

    It has all the abilities to turn things around and clearly KP is confident to be taking up more $2 shares when the stock was trading around $1.70.

    Watch how positive sentiment that something radical is about to be done can drive previous fallen angels such as ORI, MAY (briefly) etc and profit...
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