Buy Pace Micro Technology (LON:PIC) on market fall

Pace Micro Technology (LON:PIC) is down over 2.5% at the time of writing. DirecTV, a key customer of Pace, has reported strong Q1 results yesterday. Pace itself is on a PE of less than 7, yet double-digit growth is expected from it. Pace is now shipping boxes to India, too. On 17 March, it signed a new deal with NET Servicos in Brazil to Deliver Digital TV Services. On 16 April, there was a favourable court ruling on the tax status of imports of Pace-supplied devices. Things look pretty good for Pace.

I'm feeling like a real chump since starting this fantasy fund, with most of the stuff I've chosen haven fallen out of bed. Either I have completely misread the situation, or Mr. Market is behaving in a highly illogical manner. I guess we'll get to find out soon enough as I top up on Pace.

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