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
$8.36 |
Change
-0.070(0.83%) |
Mkt cap ! $1.511B |
Open | High | Low | Value | Volume |
$8.44 | $8.44 | $8.24 | $12.59M | 1.510M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 8816 | $8.35 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$8.36 | 1686 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6000 | 8.340 |
1 | 1610 | 8.310 |
6 | 15197 | 8.300 |
2 | 5033 | 8.290 |
2 | 2910 | 8.280 |
Price($) | Vol. | No. |
---|---|---|
8.360 | 1686 | 2 |
8.370 | 2705 | 2 |
8.380 | 13166 | 3 |
8.390 | 4841 | 3 |
8.400 | 18191 | 4 |
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