during the 2008 GFC, Mirvac dropped to 58c/share, this is the worst downturn since 1870 according to ABC radio, so why is this stock still above $2? and not closer to $1 or less? The only good thing i see is MGR has a AAA credit rating from moodys/fitch, thats about it, and they only have $200 million of debt due in the next 2yrs. Time will tell what happens in SEP when job keeper ends, % rates will fall, but who will take out a new home loan when most people will be worried about staying in their job. MGR will survive this, but its definately going sub $2 again, they will have to cut their divvy eventually.
MGR Price at posting:
$2.13 Sentiment: Sell Disclosure: Held
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