Sabman, there is a point at which a stock is oversold, and a good entry. I believed MYR was in this position Thurs which is why I bought in then at 82.5c. Yes MYR management were useless, yes they HAD a lot of debt. However MYR is a brand that has positive consumer recognition, and great locations. and revenue. It might take new management, a T/O and strategy for it to work, in the same way it worked for DJ's when woolies took them over, but if this happens they could be spinning out $. The ducks are also lined up for a corporate play and better management now IMO. Entering at 82.5c or 90c at a discount to the Goldies aquisition at 94c seems to me to be a reasonable risk to take.
MYR Price at posting:
90.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)