Not sure if it is manipulated or not, but very strange desperation for a dividend that comes out of cash holdings of the stock anyway. If you pay 30% tax it is worth 61.3c as only 85% franked, but the SP will probably fall by that on the xd day anyway.
Cost reduction stories are a load of fluff - they don't have the income trajectory to maintain historical costs. Its certainly not low hanging fruit - but grim reality that this business is shrinking fast. They have some closed end funds where holders are hostages and can't get out.
Anyway - had to short it on the insanity. First attempt was stopped out, glad I latched on OK second time. I suspect very few will want to see what happens to this stock Monday after some reflection time. But I'm often wrong.
Might be another opp to short this before the xd.
Retail shareholders have been deliberately pasted by these guys IMO. Suspect it might be happening again.
All IMO
MFG Price at posting:
$10.49 Sentiment: Sell Disclosure: Held
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