Pretty much exposed to a totally new market... that is the ASX. One of the analysts there, Fat Prophets, rated them a buy when they first listed in Australia. Quite scare as this may be the catalyst for more NZ stocks moving bourses.....
Yeah scary for sure, will be interesting times when TIL gets on there. Not saying that MJH isnt a good company but TIL would be "very" interesting
Yeah scary for sure, will be interesting times when TIL gets on there. Not saying that MJH isnt a good company but TIL would be "very" interesting
I could be wrong but the volume in MHJ seems to have appreciated considerably since its Australian listing. So a lot more interest shown from over there and a lot of the crossing going on here in NZ will be buyers from Australia purchasing from NZ holders in arbitrage type plays. I did see ACC had decided to reduce its stake and considering the rapid price in crease I can understand that. I bought some at 94 cents a few months ago and am wondering whether I should take some off the table too.
Also now they have paid the tax bill they should be able to pass on NZ imputation credits with dividends and their latest sales growth looks promising so this all adds weight to the increase in share price.
This stock outran its fundamentals by a large margin in my calculations...
I bought in at 85 sold at 1.57 and wouldn't buy in until around the 95 cent mark as of now either...
Good growth stock possibly but that growth will not happen overnight as the stock price suggested in my humble opinion
Yeah I was wondering the same thing why it dropped 10% in a day. Doesn't seem to be any single event that caused the price to suddenly drop, however agree with benjitara that the price ran ahead of its long term valuation.
In saying that, I do like its medium to long term growth prospects. Seems to be reaching saturation/maturity in Aus and NZ but from the looks of things they've cracked the formula in Canada and should be able to roll new stores out full steam, and beginning to turn things around in the US
Yeah I was wondering the same thing why it dropped 10% in a day. Doesn't seem to be any single event that caused the price to suddenly drop, however agree with benjitara that the price ran ahead of its long term valuation.
In saying that, I do like its medium to long term growth prospects. Seems to be reaching saturation/maturity in Aus and NZ but from the looks of things they've cracked the formula in Canada and should be able to roll new stores out full steam, and beginning to turn things around in the US
Pretty much what you say sums up my thoughts. I think the initial exuberance was due to the Australian listing effect etc and also some good numbers. But I will not be selling, long term if NZ and AUS continue to provide good margins and Canada and the US get moving this could become rather large. Nice also that new stores are being rolled out organically and from existing cash flow. Emma and Roe could be the icing on the cake if that takes off....
Would anybody be able to help shed some light on the tax situation of this company. The 2016 annual report says that "the final dividend will be fully franked and imputed" however it appears that no imputation credits are attached.
Originally Posted by blackcap
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