From the ACCC website.... ....29 May is 3 days after the HY Results which is a bit awkward and ELD don't really "over-communicate" in relation to how they are travelling outside of official results announcements.
I am expecting the operational performance for ELD to be on the improve but the impact from the delay with the Delta Ag merger could be material now we are two months down the track from 13 March with lots of additional shares on issue and no clarity on the merger.
As you say, the share price is pretty low, but I think the market is pricing in a "worst case" scenario because of the uncertainty around the merger and drought conditions across southeast Australia.
This ignores good rainfall in northern Australia and stable/rising ag commodity prices for livestock and fertiliser.
I'm not 100% certain what the outcome of the merger review and HY results will be but I believe it will be better than what the share market is suggesting currently.
Shorts have stablized below 1% recently which suggests the worst of the share price decline is over at least. I noticed State Street issued two substantial shareholder notices in quick succession the other day. One up and one down. Maybe they are having trouble exiting?
Would be good to hear the thoughts of others on all of this....
GLTAH
Trev
ELD Price at posting:
$6.30 Sentiment: Buy Disclosure: Held
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