No skin off my nose, I got out of Magellan at ~$40 after buying it at $30. Yeah sucks to miss a 10% bounce like today but I'm not a short-term trader.
The fact these guys want to increase capital returns off of an unsustainable or declining business model should worry shareholders. Today's price reaction is just a sugar hit from investors who can't see past tomorrow and want to grab hold of a 6% yield and franking credits and celebrate like they're heroes.
I don't care for 6% or 60%, I want 600% returns over a 10-15 year period and I don't think Magellan can deliver that unless they generate substantial alpha and win back even bigger clients.
No skin off my nose, I got out of Magellan at ~$40 after buying...
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Last
$8.43 |
Change
0.210(2.55%) |
Mkt cap ! $1.523B | |||
| Open | High | Low | Value | Volume |
| $8.23 | $8.45 | $8.20 | $6.423M | 769.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7432 | $8.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.43 | 27807 | 2 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| MFG (ASX) Chart |