IGL - took a punt for an overnight hold tonight at 67c
For years this has been a rock solid $2 share but was dumped hard during covid downturn. Minimal news out since but it continues to trade well down. Coles dropped a contract with them but my thought is this is a low profit/high turnover deal so won’t have a significant impact.....regardless, share price was low well before this happened.
Financials out tomorrow and I expect that although they will have been impacted it won’t be as bad as people think and we will see a rather quick relate to at least 50% of pre-covid levels. If they have done enough re cost savings then they could actually be a 100% runner....time will tell
