He’s done an outstanding job! Here’s some fun facts for you. Thirteen years ago enthusiastic investors elect to buy Mayne at 39 cents the low of the day 16/7/13 hoping to make some insightful investment that will grow over time.... Fast forward to Oct 2020 and Mayne now trades at 32-33 cents but here’s the real clincher for people. In 2011 there were only 206.9 million shares but now in 2020 we have 1.679 billion shares so 8.15 times as many shares as there were 9 years ago. So if we divide that 39 cent price tag by 8.15 times we get an even more horrific view of the wealth destruction achieved by SR. That 39 cents in real terms now equals 4.78 cents without taking into account inflation and whether the company has increased it’s debt over that period of time which would have further destroyed share holders wealth. But at least they’ve been paying dividends.... Well they have paid less than 1 cent in 9 years. This is lesson 101 in looking at what the historical data tells you not getting caught up in the hype. The Teva deal was sensational....for Teva....and a disaster for Mayne that it is still paying for. It’s reputation is in tatters because SR has been allowed to continue in this role and allowed to have a “change in strategy” which is code for “I completely ballsed up” and won’t admit it. In come the next bunch of gullible investors that listen to the hype about Nuvaring.... Well plenty of hype about..... get ready for approval...... but alas another predictable mistake from the guy who never admits he makes mistakes. Lucky the convenient scape goat of Covid arrived in the nick of time to give SR yet another external factor to blame!!! Retails will have no power whatsoever. This guy has been out of control for years. And now everything hangs on E4 an untested OCP. E4 is boom or bust for Mayne. Just waiting for a CR to stick the knife further into retails hoping to get wealthy whilst watching their holdings losing sickening amounts of value. Sometimes you are better off selling out and moving away from a company. MYR another great example listed at $3.90 and now trades at 20 cents. Some businesses are just losers because the wrong people with no business sense are left in charge and consistently destroy share holder value. Hopefully this discourages any potential new investors from blindly investing in this company that heavily lines their own pockets whilst losing hundreds and hundreds of millions of $ of share holders funds. Glad I’m out!
MYX Price at posting:
32.3¢ Sentiment: None Disclosure: Not Held
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