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21-10-2021, 10:20 AM
#22931
Up up and away now?? Or hit a wall $7.7- $8NZD? Seems like the rally is completely disregarding the law suit, and just focusing on Bubs recent update in being hopeful Daigou will re-establish. Shorts covering, but will this run out of steam and take another dive as approaches the key $8 resistance mark?
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21-10-2021, 02:00 PM
#22932
A2 Milk may face second class action claim
The a2 Milk Company may face a second class action claim after Shine Lawyers launched an investigation on behalf of investors who purchased shares between August 19, 2020 and May 7, 2021.
https://www.afr.com/companies/manufa...0211021-p591w7
one step ahead of the herd
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21-10-2021, 02:21 PM
#22933
Originally Posted by bull....
From ATM
The a2 Milk Company ("the Company") is aware of media reporting concerning a
potential class action against the Company that is apparently being
investigated by Shine Lawyers. The Company is not aware of any legal
proceeding having been filed by Shine Lawyers at this time.
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21-10-2021, 02:33 PM
#22934
Originally Posted by 777
From ATM
The a2 Milk Company ("the Company") is aware of media reporting concerning a
potential class action against the Company that is apparently being
investigated by Shine Lawyers. The Company is not aware of any legal
proceeding having been filed by Shine Lawyers at this time.
if its in the afr its usually pretty reliable
one step ahead of the herd
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21-10-2021, 05:41 PM
#22935
Member
Originally Posted by bull....
if its in the afr its usually pretty reliable
Class action won't change ATM fundamentals. As long as its financial performance can be recovered like Danone and BUB, its SP will rise over $10.
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26-10-2021, 09:22 AM
#22936
Big day for ATM tomorrow.
Will the sp sink or will it rise further on the back of the strategy update? Presumably there will be an earnings update as well.
https://www.nzherald.co.nz/business/...4DUQQKPO47RSY/
"Investors will soon discover what's next in store for a2 Milk after Covid-19 lockdowns, greater competition and a declining birth rate in China disrupted its infant formula business, causing a slump in the former high-flier's share price. A2 Milk's net profit plunged 79.1 per cent to $80.7 million in the June year due to the prolonged impact of the pandemic and a rapidly changing China infant nutrition market, prompting the company to review its growth strategy. Chief executive David Bortolussi, who has been in the job for just under a year, is set to update the market on that review on Wednesday."
DB has only been in the job since early February? You would think that the Herald & the analysts could at least get that right!
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26-10-2021, 09:52 AM
#22937
No matter how you slice and dice it the macro picture looks very challenging to me and there is already a lot of expected growth baked into ATM with the company trading on 42 times FY22 earnings and 30.5 times expected FY23 earnings. These sort of metrics used to be reserved for very fast growing companies. Is ATM still a high growth company ?
https://www.marketscreener.com/quote...22/financials/
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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26-10-2021, 09:56 AM
#22938
Originally Posted by Lease
Class action won't change ATM fundamentals. As long as its financial performance can be recovered like Danone and BUB, its SP will rise over $10.
Paying half a billion dollars in damages will change ATM's fundamentals!
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26-10-2021, 10:07 AM
#22939
Originally Posted by Balance
Paying half a billion dollars in damages will change ATM's fundamentals!
I highly doubt the class action will end up going anywhere unfortunately, a high bar to clear given the pandemic unless management negligence can be proven.
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26-10-2021, 11:31 AM
#22940
dont think this article will help defend the actions.
Paywalled
https://businessdesk.co.nz/article/m...art-to-profits
Geometrica Fund manager Gary Hui could not believe the A2 Milk Company maintained its profit and revenue guidance at last November’s annual general meeting. Every single data point told one of Australia’s leading short sellers that the infant formula retailer’s forecast for revenue up to $1.9 billion in financial 2021 was too optimistic.
Last edited by peat; 26-10-2021 at 11:34 AM.
For clarity, nothing I say is advice....
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