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.
Ann: On-Market Share Buy-Back, page-27
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Last
$8.19 |
Change
0.050(0.61%) |
Mkt cap ! $1.480B | |||
| Open | High | Low | Value | Volume |
| $8.12 | $8.19 | $7.99 | $5.601M | 691.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 709 | $8.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.21 | 4682 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$8.18 |
Change
0.050 ( 0.22 %) |
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| Open | High | Low | Volume | ||
| $8.14 | $8.18 | $8.00 | 101926 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| MFG (ASX) Chart |