Q: Hi, Topicus released excellent results, 3 weeks ago and stock touched an all time high of $94.80. However, since then it has been in a continuous downtrend and as of today, lost 20% of its value from the peak. Stock's decline over this period has been relentless and rather systematic. Specially for past 1 week, stock can not seem to hold its open and close lower, every single day, no matter what the rest of technology sector is doing.
Volume, though, has been low, which could imply that sellers are not institutions, rather some retail investors booking their profit, from the free shares received or bought cheaper, during initial listing days.
Your recent comments have also been consistent with this observation and you have expressed your comfort with buying/adding at current levels for long term. So we have done and we hope (with Constellation Software's incredible history, in mind) to do well over next several years.
However, the price action of the stock has been weak and frustrating, to say the least.
It would be really helpful, if you could share any further thoughts or insight.
Thank You
Volume, though, has been low, which could imply that sellers are not institutions, rather some retail investors booking their profit, from the free shares received or bought cheaper, during initial listing days.
Your recent comments have also been consistent with this observation and you have expressed your comfort with buying/adding at current levels for long term. So we have done and we hope (with Constellation Software's incredible history, in mind) to do well over next several years.
However, the price action of the stock has been weak and frustrating, to say the least.
It would be really helpful, if you could share any further thoughts or insight.
Thank You
