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How to Protect your Wealth by Investing in AI Tech Stocks

Bargain Hunting - Buy PartyGaming

Portfolio / Investing Oct 05, 2006 - 12:15 PM GMT

By: Nadeem_Walayat

Portfolio

Over 65% off the price of PartyGaming ! An opportunity presents itself !

Partygaming gets maybe 60% to 75% of its revenue from the USA, so it will initially be a big hit to revenues and prices, but over the last 6 months it has expanded its overseas base by some 150% earning $150 mill in revenue! So given that were investing rather than playing poker, it is conceivable that they will be back to $1.6 billion of revenue within 2 years which would suggest a price of some £1.60 ! Much higher than the current low of 37p !!! Okay the dividend has now been removed ! which given the circumstances is expected.


So the portfolio is buying PartyGaming, since after the sale of ENODIS the portfolio lacks a speculative element, and given that Partygaming is the blue chip of online gaming stocks it represents a good speculative investment ;)

Portfolio Transaction - BUY - PartyGaming.com 3000 @ 38p 5/10/06

I am also going to issue more quick portfolio updates when the opportunity arises to take advantage of market updates between the regular main portfolio updates.

Nadeem Walayat

(c) MarketOracle.co.uk 2005-2006 - This Model Portfolio is provided for general information purposes only and not a solicitation or recommendation to enter into any market position, and you are reminded to seek independent professional advice before entering into any investments or trading positions.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments


09 Oct 06, 18:26
Re: Bargain Hunting - Buy PartyGaming
I too was wondering if its good to buy these online gambling stocks given the drop.

Mike

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