Its been interesting to read all the howls of outrage on this site today. I have a subtly different perspective:
1. The AFG model went wrong - nobody foresaw what would happen in world credit markets and even shareholders continued to hold on as things unravelled (I bought more at $8 and $4 HA!)
2. There is risk in all shares especially ones that perform like this one has and occasionally sh*t happens
3. There is a way back. There is no financier who has any incentive to force the rump of the business into administration so long as it can service its loans and that seems to be the case.
4. Reputation can be regained.
5. This will take time but if that means the shares returning to $3 in 2 years that is a pretty good return over a couple of years. If they start to succeed in offloading assets and improving transparency in the coming months I see the price recovering to around $3 relatively quickly.
6. The management lost more than most of us.
a different point of view
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Last
$1.35 |
Change
0.020(1.51%) |
Mkt cap ! $364.1M | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.35 | $1.33 | $351.9K | 262.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3238 | $1.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.35 | 4541 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| AFG (ASX) Chart |