Charts has done what we are all probably guilty of at some stage, gone hard into a stock and seen it fall from grace....stock investing is all binary, youre gonna lose on avg 50% of the time. Dnt blame him 4 blowing the same horn when youre that heavily invested and starring at RED for months/yrs...
aside from that, this has rabbies not fleas, productive q is, how can it b fixed?? kinda reminds me of qbe's fall from grace, under Franks O'H's stewardship, he overpaid for everything he could in all continents and share price flew to $45, came crashing hard with write off after wtite off. Different sector, same performance... - agree, Scotts gotta go, just like frank had to leave...take his buddies with them (all share same idiologies so best to wipe slate clean) - cant do more takeovers due to lack of balance sheet legroom on both issued cap dilution and debt financing, so look for merger opps with like sized US based peer further de-risking income streams - offer a bloody divi, throw us a stick! Even 0.5cents would put a rocket, if not a floor under this stock...what would that cost? Bugger all given our cash balance...
with the 2:1 sell to buy ratio, major holder must be dumping stock. Probably as tired as we are. Clearly lack of faith with mngt and ability to deliver. There will be future write downs as $1bn vs $780m mkt cap gap allows for $200m w/o.... im back cause im a sucker for punishment but can see future potential under new mngt. Well overdue for change.
MYX Price at posting:
45.3¢ Sentiment: Hold Disclosure: Held
