Ann: Guidance Update FY19, page-31

Just my interpretation.

Recent drop in share price:

1. Ex dividend.

2. Decline in housing prices in major Aus cities, analysts predicting further drops - fear for current holders with weak hands; potential investors hesitant and want to assess the housing situation; shorters finally have an opportunity to enter positions in a real estate stock.

3. CEO disposed of approx 250,000 ordinary shares recently, causing fear for some holders. More fear.

The good:

1. Majority of VLW developments not in areas of price declines.

2. Stock now trading at over 10% lower than NTA.

3. 3million shorted stocks need to be re-bought at some stage.

4. VLW historically very reliable with earnings and consistently profitable.


IMHO easy buy in a weeks time, 10-20% gains to be had at current price at some stage in the next 1-6 months. DYOR

Arty