MPG - Metro Glass

[bull....]

Careful, you might get your boots filled and then some at 90 cents....plenty of people thought they couldn't possibly go under $1...just saying.

no plans to buy any at the moment , just the ego of hitting your research price thats all.

[JeremyALD]

Careful, you might get your boots filled and then some at 90 cents....plenty of people thought they couldn't possibly go under $1...just saying.

Mhm I'm constantly surprised with new lows. The ASM really was where shareholders lost complete confidence, up until then it was holding fairly strongly after each significant drop. This time its just been a constant downward trend.

[TheHunter]

Anyone noticed someone buying up reasonable amounts off market?

[percy]

Anyone noticed someone buying up reasonable amounts off market?

No,but have seen some one off loading a lot off market.
May be a case of The Hunter becoming The Hunted.

[TheHunter]

a lot of off market trans (SP) going through in the depth, always on the ask side.

[Beagle]

Mhm I'm constantly surprised with new lows. The ASM really was where shareholders lost complete confidence, up until then it was holding fairly strongly after each significant drop. This time its just been a constant downward trend.

The shares tried hard to build a base at $1.00 and failed. This could be a buy when / if it eventually breaks up through the 30 day MA. I think risk averse investors will probably wait for that rather than trying to pick the bottom which could be who knows where ? One thing with a comprehensive external review of operations you cannot rule out a really significant restructuring charge against FY19 earnings and I suspect the market is starting to wake up to that prospect. Really its been quite the dismal investment for IPO investors with it currently trading close to half the IPO price more than 3 years on whereas the market on the other hand has done very nicely. Seems to me investors are starting to ask, why throw good money after bad ?..or maybe its just the Jasinda effect clobbering business confidence...who knows but why bother trying to swim against the tide ?

[JeremyALD]

The shares tried hard to build a base at $1.00 and failed. This could be a buy when / if it eventually breaks up through the 30 day MA. I think risk averse investors will probably wait for that rather than trying to pick the bottom which could be who knows where ? One thing with a comprehensive external review of operations you cannot rule out a really significant restructuring charge against FY19 earnings and I suspect the market is starting to wake up to that prospect. Really its been quite the dismal investment for IPO investors with it currently trading close to half the IPO price more than 3 years on whereas the market on the other hand has done very nicely. Seems to me investors are starting to ask, why throw good money after bad ?..or maybe its just the Jasinda effect clobbering business confidence...who knows but why bother trying to swim against the tide ?

I agree Beagle but I've missed the ship here and it's very hard to jump off it at 90 cents with a 7cps dividend on the way. Ultimately I think I'll just need to hold this one for the long term and see where it goes.

The share market is acting like this stock is doomed and even if there is a large cost next year for restructuring if that's what the company needs to start making progress sobeit.

I personally wouldn't buy shares at this price but if it drops below 80 cents which isn't beyond the realm of possibility I might double down because I just think the market cap for this is quite ridiculous based on what we know.

[winner69]

Mhm I'm constantly surprised with new lows. The ASM really was where shareholders lost complete confidence, up until then it was holding fairly strongly after each significant drop. This time its just been a constant downward trend.

You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time. Lincoln I think

Even before the ASM they were saying things weren't going to get better in a hurry. You need to read between the lines and understand the code.

Difficult to keep telling the same womderful growth story post IPO while realising that they needed to gradually wean punters off that story ...... big fail

Will still make about $20m this year F18 (normalised of course) ....where to in F19 is anybodys guess ...maybe F20 will be the year unless Labour have driven us all into a bust part of the cycle

[winner69]

.....

the share market is acting like this stock is doomed .

Dont agree - the market is just trying to find a 'realistic fair value' for it ...which seems to be about 90/100

Book value is $156m (including all that goodwill) and market cap about $160m ....not outrageously stupid

Enterprise value about $260m - about 8 times EBIT - not outrageously stupid

[Beagle]

I agree Beagle but I've missed the ship here and it's very hard to jump off it at 90 cents with a 7cps dividend on the way. Ultimately I think I'll just need to hold this one for the long term and see where it goes.

The share market is acting like this stock is doomed and even if there is a large cost next year for restructuring if that's what the company needs to start making progress sobeit.

I personally wouldn't buy shares at this price but if it drops below 80 cents which isn't beyond the realm of possibility I might double down because I just think the market cap for this is quite ridiculous based on what we know.

I sold half my shares at $1.38 that I'd bought at $1.35 and the rest at just on $1 which was painful for me because I hate getting skunked or admitting I made a mistake, (occupational hazard for bean counters / beagles is they like to think they can sniff out trouble coming))...but it is good for the soul to admit it is impossible to get every decision right and you can't win every time and its also always good to take a loss on the chin to give one's ego a reality check.

I hear what you're saying mate but I really do think the tide is going out with this one and this hound is too old to bother trying to swim against the tide, too much hard work and my paws get tired Good luck with it.