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One of my more brilliant ideas was the purchase of SMX a couple of years ago. Since that happy day they have headed south in a big way. Pull my head out of the sand or hold on like grim death for possible resurgence?
A: There is an old adage – “your first loss is your best loss”. I find it works 8 out of 10 times – particularly if you have other investment ideas that need to be funded.
In regards to SMX (SMS Management & Technology Limited), it is cheap – trading on a multiple of just 10.0 times FY17 forecast earnings and 8.6 times forecast FY18 earnings.
All the major brokers are neutral on the stock, with a consensus target price of $1.67 – just a few cents higher than the current price. The problem is that this stock is unlikely to be re-rated in the short term.
If you have better plans for the money, my inclination would be to cut your losses.
