I sold most of my holding about a week ago at about this level and watched it pound another 5 or 6% higher.
I, too think it is now extremely overpriced compared to it's peers and will probably pull back.
With that said though, there is a reason they will be consistently priced higher than a lot of other fundies. Their performance in a lot of market situations has been pretty solid in the global equities space. I think their performance during a tough market late 2018 was very impressive considering their growth bias.
There very well could be a significant pullback from this lofty valuation, but I'd happily be a buyer again at the right price.
I sold most of my holding about a week ago at about this level...
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Last
$8.42 |
Change
-0.140(1.64%) |
Mkt cap ! $1.521B | |||
| Open | High | Low | Value | Volume |
| $8.52 | $8.53 | $8.34 | $4.998M | 594.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2816 | $8.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.43 | 162 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MFG (ASX) Chart |