The underlying business here is solid but FWIW I think AX1 will struggle to hold above a dollar over the coming months as fundies digest this result.
With the full impact of central bank rate hikes yet to be felt on the ground by discretionary retailers, investors could be in for a bit of a rollercoaster. Quick calculation puts this on about a 600m valuation. But as everyone heads for the exit door at the same time it might not stop there in the short term. Anyone invested in AX1 long-term knows support usually kicks in around 80c (12 X LTM EPS).
The underlying business here is solid but FWIW I think AX1 will...
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Last
$2.22 |
Change
0.060(2.78%) |
Mkt cap ! $1.249B | |||
| Open | High | Low | Value | Volume |
| $2.18 | $2.22 | $2.16 | $7.621M | 3.464M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 44286 | $2.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.22 | 34073 | 6 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| AX1 (ASX) Chart |