The SP is dropping simply because of the perception that interest rate rises will temper consumer spending. It may. But people still need shoes and will continue to buy shoes. What people are forgetting is that savings rates are at record levels and only one third of the public have a mortgage. Mostly manageable. Some who are overgeared to buggery and lied on their loan applications will suffer but I suspect it will be the minority. In the meantime this stock will go nowhere. Probably even fall to $1. But with all cycles it will turn. Frustrating for sure. I hate it. But IMO it has been oversold to buggery by the weak.
AX1 Price at posting:
$1.35 Sentiment: Buy Disclosure: Held
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