What's happened with mpg share price lately is what's happened when some macro market stuff goes against you ......coupled with the affect of pissing the market off (or the market losing confidence in you)
Often takes a while to turn that around.
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What's happened with mpg share price lately is what's happened when some macro market stuff goes against you ......coupled with the affect of pissing the market off (or the market losing confidence in you)
Often takes a while to turn that around.
No more bounce left in this cat. Now resembling 2 week old road kill. Continual battering by worn out car tyres heading to fairer destinations won't help it's complexion any.
Insto still selling out?
I see no reason why they can't improve NPAT over the next few years given consents will remain elevated and their working on improving operating efficiency. They haven't won over a lot of supporters with a poor track record but I don't think their track record is exactly shocking either. They have still delivered strong revenue growth.
Personally I see fair value at $1.20 but I'll make an update on that with their 1H results. If it's as bad as the market expects I may also head to the exit door.
That's exactly it mate. Momentum. Until they can give some assurance in their November update I cannot see a catalyst to stem the outgoing tide of sentiment. Factor in that people simply get tired of the pain and capitulate and momentum feeds upon itself until the clear directional change catalyst occurs. A painful reminder to never hold in the clearly established downtrend. Good for the soul to get the odd financial beating from time to time. Helps with avoiding over confidence.
Very hard deciding whether you are right or wrong.
If I am not sure I either do not buy,or sell.Did not but MPG as I was not sure,decided to wait for the result before deciding.poor result so did not buy.
If I am wrong I sell.TGH.Thought I was buying a great consumer staple,was wrong so sold.Don't think I will ever look at them again.
Strong conviction.When the market says I am wrong,and my research says I am right I back myself.HBL.Cows ,no deposit cars,at the time causing a strong down trend,I brought more.!TRA in strong down trend at present,and I am buying more via TRA'S spp..
So it comes down to your research.
Never, never ever, absolutely never ....
Invest in a stock in a downtrend especially when it keeps setting new lows.
Everytime I break that golden rule, I end up losing BIG.
One ominious sign was second F17 half Gross Margin of 44% when normally Gross Margin should be 53% odd.
If this has continued into the first half of this year (and likely) expect a worse than flat result.
Second omnious sign was hiring consultants - signal they have a problem that they can't solve. Even if rhe consultants do solve it implementation will take a while
Milford extended their criticism of the Board to questioning 'management abilities' in a story I read on sharechat.co.nz yesterday
The half year finished last week. Rigby will know how flat flat actually was by now - an announcement might be soon eh bull...