Sylvania Platinum increased to 3.7%

Sylvania Platinum: (SLP.L, AIM All-Share, Market Cap £113, 435.5p, 3.8% of JIC Portfolio and 0.0 of JIC Top 10)

Following Sylvania’s results on Friday, the share price has taken a bit of a drubbing. It is down 11.5% today following an 8% drop on Friday.

One look at the chart below shows that it is a volatile stock. Friday’s results clearly disappointed the market, but it was their best Q2 ever and their 3rd best quarter on record. Management pointed out the ongoing challenges. These are not new challenges, but it seems the market has taken it to heart.

Given today’s drop to 35p, the shares now stand on a prospective June 2020 dividend yield of 6.0%.

Clearly my purchase on the 22nd January was poorly timed. I have just increased the position back to 3.7%, believing that today’s spike down is like previous ones, a good opportunity to top up.

I paid 35.65p per share

Screenshot 2020-02-03 at 14.35.09