Maybe it's time to head to EDV's Dan Murphy's or a local BWS outlet and stock up on champers and Australian-manufactured wines and beers to celebrate the broaching of 40 cents. Don't forget party hats and lamingtons, plus a pavlova base and cream, from WOW.
More seriously though, if Solomon Lew's PMV's median entry price was 83 cents, while this buying spree will be assiting in reducing the 'average', he may not be there yet in terms of making a profit. Perhaps a forlorn hope but will he launch a takeover bid that values MYR at more than bargain basement prices?
MYR's FY 21 does not end until 31 July 2021. Given MYR's propensity to only issue occasional updates, if there's no formal takeover prior to early September when the FY 21 annual report should be issued, we have a while to wait for official annual trading information.
MYR Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
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