I'm out after a long suffering few years as an MFG shareholder. I drew up a graph of FUM over the last 6 months and it shows no sign of stabilizing. Whilst the buyback may help to put a floor under the share price in the medium turn, I had to ask myselft if I didn't already own MFG, would I be buying today and the answer is a definite no.
I also note the lack of director buying even at these knock-down prices.
I also did some research on Brian Benari, head of Barrenjoey, and the first link on google is somewhat concerning.
It is painful to crystallize a susbstantial capital loss and the share price may well increase from here but I feel a weight off my shoulders no longer being an MFG holder.
Good luck to holders, hopefully management can turn the ship around soon.
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Last
$8.45 |
Change
-0.050(0.59%) |
Mkt cap ! $1.527B |
Open | High | Low | Value | Volume |
$8.41 | $8.47 | $8.41 | $5.126M | 607.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1065 | $8.45 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$8.46 | 4797 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1650 | 8.440 |
1 | 3308 | 8.420 |
1 | 10000 | 8.410 |
8 | 22079 | 8.400 |
4 | 9928 | 8.390 |
Price($) | Vol. | No. |
---|---|---|
8.460 | 3085 | 2 |
8.470 | 21012 | 6 |
8.480 | 2585 | 2 |
8.490 | 6236 | 2 |
8.500 | 14896 | 7 |
Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
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