I don't think it's fair to compare JBH with Centro....the latter is simply a victim of a liquidity crunch, the former is trading well with good profit growth.
Sentiment certainly a huge factor --if no-one wants to buy irrespective of the reason, the price will linger. But often the sentiment is not based on fundamentals, but pack mentality. We have to live with that.
JB is a relatively young company, but its track record so far is excellent in terms of cashflow and sales growth.
At $17 the PE was very high, but a lot of future growth was factored into that price. I'm confident the future growth is still there --and so is the management. Australians are shopaholics, and I've yet to walk into an empty JB HiFi store.
JBH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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