Some very cheap Synlait shares on market. They paid $10.90 per share for the last tranche.
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Problem with your $400m profit is that it would need revenues to be $1.9 billion and even bulls like Steve and allfrom are not expecting that.
Say $1.4 billion revenues (+51%) and you’d expect profit of $300m
So today on a forward PE of about 25 today ....seems pretty reasonable
Think from memory they are about 17% and if they went over 20% wouldn't that trigger a takeover? Or probably could apply for dispensation?
However, the last comment of their announcement on 3rd of August when they bought their last tranche said: "a2MC has no plans to further increase its shareholding in Synlait."This was signed by Jayne - didn't say anything about selling shares...….. ;)
Interesting day so far, volume on NZX is higher than ASX. Not sure what to make of it...
Wow... look at the amount of shorting yesterday... I suppose the shorters are more confident and looking at a flat ending today... its going to be nervous three days for all holders...the shorting percentage was a staggering 112.86%
https://www.shortman.com.au/stock?q=a2m
The daily short percentage data is total shorting activity which includes covering. Best to keep an eye on the chart for actual shorted shares which is delayed by 4 days.
My hunch is a lot of the closing volume yesterday was covering but who knows..
I see UBS just paid about $370m for about 5% of a2m last week. Look forward to AGM and results tomorrow:).