Ann: Austal increases FY2020 earnings guidance, page-9

The volume and price action looked really good at the start of the trading day!

I also wouldn't surprised if some investors (be it retail or institutional) took the opportunity today to sell down some of their position given the concerns that some have over revenue cliff in FY24.

In my view, the current prices also contain an embedded optionality for contracts over the next few years. One can never say with 100 percent confidence that Austal will secure another contract but I reckon the risk-reward proposition is pretty good here for the reasons that I previously outlined in my other post.