Purchased this in 2017 for $1.80 only to see shares sink back to $1.25. Sold out at $2 thinking at the time I got out of jail on that one. Share subsequently went to $3 so have been waiting for an opportunity to get re set.
MNY has a history of steady appreciation followed by sharp corrections. I am giving this a couple of weeks to see if it tests $1.50 again. Once a bottom is found history shows it moves off same within a week or so.
The other consideration is the FF dividend, currently $0.10c p.a. We know new car sales are in a slump but are MNY financing second hand cars and if so what is the % on retrospective deals? If the company can maintain earnings / dividend then at say $1.60 it would be paying a grossed up dividend of 8.9%. Then with some luck it may take out its old highs.................well down the track.
Growth stocks paying health dividends are gold. Is MNY a candidate?
MNY Price at posting:
$1.80 Sentiment: None Disclosure: Not Held
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