Note the final sentence about three years up and two or three down.... And a long runway of housing construction starts is projected until 2027 or '28. And if you wanted to be clever and and compare housing starts with the all-time BRI share price, there's a certain waviness and fluctuation to both. Maybe I'm reading too much into it.
At the start of 2018 BRI was around $2.30. 18 months later in mid-2019 we were around 95¢. By the start of 2020, shares had recovered to $1.60.
Since March 2023, in 15 months, we've fallen from $2.60 to $1.43. In other words, the 2018/19 fall was 52% from top to bottom. It's been ~43% this time in 2023/24. BRI is completely unloved and a classic contrarian play
My fear is the share price will continue falling indefinitely, and go to 0.01¢, then bankruptcy. It's an unreasonable and irrational fear though. Debt is low (so is the number of people wanting to buy this each day!) and the company is 100+ years old. Commercial construction is doing fine, and the cyclicality in residential construction will turn. It always does (see article extract above). We're arguably in a stronger position now too, following the small acquisitions.
Operationally, I don't know BRI could really be doing anything differently or better. I guess the silver lining is there is very little competition for buying this at the moment and it's a great time to be building a position. When the cycle turns, these shares will be in demand and I'll be requesting a decent price to hand mine over. In the meantime, maybe all I've done wrong is not expecting the downturn to be this dramatic. I suspect it's a waiting game with BRI. In the meantime, politicians of all parties and the media are aware of a housing crisis. The situation will improve in the medium term; I'm sure of it.
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Note the final sentence about three years up and two or three...
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Last
$1.50 |
Change
-0.005(0.33%) |
Mkt cap ! $128.0M |
Open | High | Low | Value | Volume |
$1.51 | $1.51 | $1.50 | $18.41K | 12.23K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 3731 | $1.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.51 | 1375 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3731 | 1.500 |
1 | 14000 | 1.490 |
1 | 440 | 1.485 |
2 | 10750 | 1.480 |
3 | 3188 | 1.450 |
Price($) | Vol. | No. |
---|---|---|
1.505 | 1375 | 1 |
1.510 | 10789 | 1 |
1.515 | 600 | 1 |
1.520 | 80 | 1 |
1.530 | 370 | 1 |
Last trade - 10.27am 07/10/2024 (20 minute delay) ? |
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