GNC is being hammered because 'Mr Market' doesn't like the uncertainty created by Donald Trump's tariff policies.
While Mr Trump's social policies in many instances are excellent, the same can't be said for erecting a tariff wall. Australia under Hawke and Keating (Labor) with fulsome support from excellent John Howard (Lib/Nats Coalition) dispensed with tariffs and quotas by the late 1980s/mid 1990s.
The fear is that mainland China - already suffering from property overdevelopment - may see its economic growth further deteriorate, leading to reduced purchases of Australian wheat, even though the latter is a staple and as the GNC CEO stated 'people have to eat'.
GNC exports to at least 30 nations but communist China is the second most populous nation after India, so its situation cannot be ignored.
GNC Price at posting:
$6.69 Sentiment: Hold Disclosure: Held
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