This is what everyone was saying when the share price was about 1.65 not so long ago. There were people implying it was not even going to survive. No doubt a lot of holders believed that the sky was falling and sold out at a huge loss.
Subsequently the price rose to 3.25 before the recent pullback. Oh dear. The sky didn't fall after all. Oh, and they continued paying a fully franked dividend the whole way, on a double digit yield for part of that journey. Imagine how disastrous the decision to sell was for some poor Hotcopper readers back then.
Myer have endured some of the worst retail trading conditions in a generation for several years now and are still paying that juicy fully franked dividend, year in year out. This shows the resilience of an iconic brand.
Retail is cyclical. If you believe that cycles have been abolished then sell Myer by all means.
Reasons why it will stop falling?
Lower interest rates make the dividend yield very attractive.
Lower interest rates will eventually bite and stimulate spending.
A change of government might spark an upturn in consumer confidence.
Signs of housing sector recovery could lead to improved confidence.
Signs the US economy might be past the worst, which could see improving global economic sentiment by year end.
Australian dollar might weaken on lower rates, which is very good for local retailers.
Or... none of these might stop it falling. Just pointing out that it's silly to ask what could possibly stop the share price falling. Answer: Lots of things.
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Last
81.5¢ |
Change
-0.015(1.81%) |
Mkt cap ! $677.9M |
Open | High | Low | Value | Volume |
82.0¢ | 83.0¢ | 81.0¢ | $1.008M | 1.230M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7188 | 81.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
82.5¢ | 96969 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 49190 | 0.810 |
1 | 1100 | 0.805 |
2 | 13250 | 0.800 |
1 | 1000 | 0.795 |
4 | 21335 | 0.790 |
Price($) | Vol. | No. |
---|---|---|
0.825 | 96969 | 1 |
0.830 | 275401 | 9 |
0.835 | 253280 | 5 |
0.840 | 73809 | 4 |
0.845 | 98646 | 4 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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MYR (ASX) Chart |