Ann: Market Presentation - German JV and Acquisition of Joey's, page-99

Sorry no sharp chart spikes ?

You realise this is a blue chip and not a penny, it moved 13%+ intraday on the back of a $120M acquisition of Joey's, its since up about 17% or some $500-800M market cap addition

Yes it has a solid SP history, but that doesn't mean the financials are solid or that the business offers value / is performing

My issue with DMP is that there is never any value left in the price, and it constantly needs to increase NPAT/EBITDA guidance to warrant future gains. However, each time a 25% NPAT guidance increase is given, it goes and adds well over and above that in the reflecting share price - meaning it is always overvalued on forward guidance alone !

So yes, this has worked for the last few years but eventually the music will stop. Punters paying these prices are offered a divi of less than 0.8% and it doesn't look set to increase to anything substantial for quite some time. So they demand SP growth and that is fuelled through increasing EBITDA/NPAT - however as DMP has no cash, it means debt will continue to increase to support more and more acquisitions

What happens when they miss a guidance or margins get squeezed / NPAT growth tapers off etc and they have loaded it up with debt, whilst the actual business isn't exactly that healthy as @Disagree highlighted with their analysis. If the market sees no more ridiculous SP action and the divi is <1% there isn't going to be huge demand

Anyone who realistically says DMP offers good value at $59+ is kidding themselves. At least some holders like H can agree it's overvalued, but it has been for some while and treated them well holding

DMP is an insto play on a tight register, but eventually one of them will think enough is enough and cash out

You can buy stuff like MND (no longer hold) for $600M market cap, $200M+ cash, no debt and NPAT last year of $100M. Even its downgraded forecast NPAT will be larger than DMP, and DMP is trading at 5 times the valuation !

I hope it goes to $60-65 for all of you as I'm no longer short, but let's not kick about claiming it's a value stock. It's horribly overvalued