With a trade on Friday 10 June 2022 of A$1.91 by 1135 AEST, how much lower will this go?
I am cognisant MTO has tiny turnover: today in 90 minutes of official trading, just 30482 have changed hands, so one determined seller placing his/her ask on 'at market' can cause big gyrations, but even so, the trend has been down, down for a while, not just this morning.
It's at odds with the excess savings that so many white collar workers, miners and even farmers/graingrowers have built since the commencement of government COVID-19 overreach in February 2020, coupled with great times for companies like ELD, NHC, WHC and YAL (the last three of which I hold).
Interest rate rises and inflation hurt, but less so if one has a savings buffer and in some cases are a homeowner with no or a fairly low mortgage.
In the same way that the ASX issues a 'speeding ticket' for unexplained rapid rises in a SP, perhaps MTO Directors ought formally (re)issue guidance in a similar way to what JLG (I hold) did yesterday.
MTO Price at posting:
$1.91 Sentiment: Hold Disclosure: Held
