Analysts don’t cover ag stocks well at all, basically don’t bother. Contrary to many bulls, including a few on here, GNCs biggest influence is crop production, they are a per tonne storage and handling business. Crops down, volume goes down and margins get squeezed. Their infrastructure is increasingly being competed against and GNC is losing the battle. Best case some offshore fund takes a swipe at them and buys the assets but not a probability I’d own shares for.
that being said, you should thank the weather gods for that rain a fortnight ago, saved the East Coast crop from a disaster. It was enough for me to cover my short.
GNC Price at posting:
$7.10 Sentiment: Sell Disclosure: Held
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