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Thoughts on the future of PartyGaming (PRTY.L)
The price drop today was influced by yesterdays announcement that pokerroom may become a large competitor if they go through with a 500m buyout and because some analysts (notably Lehman brothers) changed Party's rating to underweight mostly due to party's recent "outperformance".
IMO, Pokerroom, even with a larger database of players, is no threat to party, but i could see why an analyst could think it is. Also, party's recent performance was due to a true value increase in the worth of the stock, initated by a genuinely great update report that tells of a great past and predicts a bright future. In addition, Party will be pumping tons of new promotions come the new year, which i dont doubt will have a greater postive effect on their site versus any other sites attempting similar efforts. This may be a good oppurtinity to take advantage of the analysts spin on the market and buy some more party. I know i'm at least holding on to my current shares, but might buy a few more in the next day or more. Any thoughts? |
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