Forum Archive Index - March 2003

["Lazy Haggis" <lazyhaggis@hotmail.com>]

Sky City Entertainment shares could fall much further than the negative 
effect caused by the tough anti-smoking legislation if it is passed as law.

The backlash effect (mainly from terrorism) caused by the Iraq war could 
have a severe negative impact on their share price (reduced world tourism). 
Also, depending on the outcome of the mystery global deadly pneumonia virus 
originating from Asia (SKC is inundated with Asian tourists) this could have 
a significant negative impact on their share price.

In addition, SKC has a P/E of around 18, and with forecast earnings growth 
of only 7% over the next two years, the stock is well overvalued in the 
current economic and geopolitical climate.

SKC has ample opportunity to decline much further, and almost certainly will 
do so.

Lazy Haggis

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