It's not surprising that the market rose on this news as there was a fair bit of panic selling going on.
The reality is that HVN (and all other retailers) are facing a difficult period coming off the covid spike in spending, high inflation, increasing interest rates and fears of a recession. There is nothing fundamentally wrong with HVN and at some point these issues will disappear into the past and there will likely be a profit rebound as the cycle changes.
Anyone who purchases at current prices is buying the stock at 6-7 times earning at a low point in the cycle, and at below book value - which a large part of is property holdings, and therefore real. They will also receive a grossed up yield of around 10% which means that providing conditions don't deteriorate too much further they should have a reasonable run with the stock.
It's not surprising that the market rose on this news as there...
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Last
$4.32 |
Change
0.070(1.65%) |
Mkt cap ! $5.364B | |||
| Open | High | Low | Value | Volume |
| $4.23 | $4.32 | $4.23 | $4.444M | 1.036M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 71 | 51102 | $4.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.32 | 8748 | 12 |
View Market Depth
| Last trade - 15.15pm 13/05/2024 (20 minute delay) ? |
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Last
$4.32 |
Change
0.070 ( 1.86 %) |
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| Open | High | Low | Volume | ||
| $4.25 | $4.33 | $4.23 | 380797 | ||
| Last updated 15.36pm 13/05/2024 ? | |||||
| HVN (ASX) Chart |