MMS was trading mostly below 200K units/day before 16/7/13, and suddently trading more than 1M units/day after that. On 25/7/13 there was more than 14.5M units changed hands.
There must be a lot of traders/short term investors expecting the share price to go higher after the election. However, due to uncertainty of earnings and dividends as announced on 10/9/13, the share price rise has not yet eventuated. Profit takings, panic sellings and shorters after the election has pushed the SP to go down by 12.5%.
However, with the FBT fact and business as usual for MMS, the earnings and hopefully the dividends will be able to boost the SP to where it should be in due course. The AGM on 22/10/13 should be the day when we see the real value of MMS.
MMS Price at posting:
$11.57 Sentiment: Hold Disclosure: Held
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