My skimming of the report made me think it was going to tank at open. And here we are up 19%. I see news media saying price "rockets" amid improving outlook. I admit I didn't see any improving outlook. I saw net profit down over 50% and expenses up. Management are claiming they are year 1 of a 5 year plan. So I guess we will see profits back up in 5 years? In the meantime the FUM may be obliterated however. The price action with the stock today seems like some kind of manipulation. Which seems all to common on the ASX. I am unsure if these is a short squeeze and I wonder if it's more of a pump and dump from some big players. I sold out a few months back and am not regretting it. This is a sell for me.
MFG Price at posting:
$10.90 Sentiment: Sell Disclosure: Not Held
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