No skin off my nose, I got out of Magellan at ~$40 after buying it at $30. Yeah sucks to miss a 10% bounce like today but I'm not a short-term trader.
The fact these guys want to increase capital returns off of an unsustainable or declining business model should worry shareholders. Today's price reaction is just a sugar hit from investors who can't see past tomorrow and want to grab hold of a 6% yield and franking credits and celebrate like they're heroes.
I don't care for 6% or 60%, I want 600% returns over a 10-15 year period and I don't think Magellan can deliver that unless they generate substantial alpha and win back even bigger clients.
Feb divi, page-22
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Last
$8.36 |
Change
-0.070(0.83%) |
Mkt cap ! $1.511B | |||
| Open | High | Low | Value | Volume |
| $8.44 | $8.44 | $8.24 | $12.59M | 1.510M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8816 | $8.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.36 | 1686 | 2 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MFG (ASX) Chart |