It may reflect how if 'Mr Market' believes there'll be a bad recession almost everywhere, so he then suggests consumption of flour will decrease.
While we all have to eat, we might worldwide buy fewer cakes and other discretionary items like sweet biscuits.
Perhaps 'Mr Market' believes this will make it harder for GNC to shift "inventory" domestically and internationally i.e. its wheat/barley/canola held in silos and bunkers. (But it collects fees if still storing). He might also suggest that growers will plant less for the 2023-24 winter cropping and then harvest season.
The pessimism for GNC is overblown as fundamentals haven't changed in the last few days, just sentiment that can at times blow with the wind.
'HC' contributor Portsmouth sometimes comments how he trades in and out making 10 per cent each time, so good luck to him.
GNC Price at posting:
$7.19 Sentiment: Hold Disclosure: Held
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