Q: WELL reported good results, or at least they seemed good. In early questions, 5i agreed. Stock opened higher then fell off a cliff ending down 32c. What does the market see about the results that initially wasn't obvious. Or is this just a glorious time to add to position?
5i Research Answer:
WELL has followed similar patterns in other quarters. Nothing unusual was revealed in the conference call. Margins improved and the outlook was raised slightly. The stock had risen 21c in two days prior to earnings, so net over three days is down 11c. Over 10 days or so it is up 3c. We would be fine buying 'some' but with a nod to its past history and weakness this year overall. It is a cheap stock, certainly.