MYO currently is trading at its lowest price since Feb 2016. I'd like to get people's opinions about why this is. I'm going to discuss three possibilities here.
Talking about buybacks, both in general and regarding MYOB, are they seen as a sign of the company having higher or lower confidence in themselves, or is it just a matter of them reshuffling their capital and is neither good nor bad?
News of the ACCC investigating the takeover of RKN caused a drop from 3.11 to 3.05. Is that an overreaction? I get the feeling that even in the worst case scenario (ACCC blocking the sale) it's not worth jettisoning your stock in a panic. Apparently the ACCC's decision will be handed down at the end of Q2 2018 so we won't be waiting too long to see how it ultimately affects things.
My speculation is that the ASX's sluggish quarter is the cause of MYO's woes more than anything else. I'm not too sure why the market got hit so badly though. I'm aware that every time a certain person says the word "tariff" or "Amazon" the US market takes a hit and that affects our market too. Is our sluggish quarter an unusual event, or is it just a matter of it going through regular peaks and troughs?
MYO Price at posting:
$3.01 Sentiment: Buy Disclosure: Held
