On a day where the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has charged forward 80 points or 1.5%, data analytics business Veda Group Ltd (ASX: VED) has once again seen its share price slide.
The stock has dropped a further 4c or 2% to just $1.96, making it today's third-worst performing stock from the ASX 200 group. It sank as low as $1.93 earlier in the session. The shares have now fallen more than 23% since peaking late in March at $2.55.
The heavy fall provides investors with a fantastic opportunity to buy shares in a quality company at a reasonable price. Although it trades on a projected P/E ratio of 22.3, the company has a strong track record for increasing revenue and earnings. In fact, it has delivered revenue growth every year since FY1993 at a compound annual growth rate of 14.6%!
While there is a chance the shares could fall further in the coming weeks, I believe it is a solid long-term prospect with substantial growth potential!
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