Haha yeah was crazy but as soon as it went back to $4.60ish a $8m~ special crossing went through at a 4% premium to market... I suspect some serious stop losses were triggered in a moment of low liquidity. Looks cracking on a chart but.
When do you see a stock fall 10% and take less than one hour to recover? All a matter of perspective. I see today's price action as 10/10 bullish.
Agree valuation is rich but it comes down to 21x PE on a forward three year view (based on consensus). I suspect current consensus under appreciates the combined turnaround and growth story all in one. If margins went back to pre-2018 levels on current higher sales.. well do that math that's why the $50m automated plant was a key strategic decision to fuel scaleable growth. Something previous management didn't understand.
Agreed Nuno. Good points. Very much a multi-pronged approach to deliver broad growth across multiple brands.
Ps BWX also won AFR Boss workplace of the year last week. Further supports how serious the new management are about getting everything right.
that's why the $50m automated plant was a key strategic decision to fuel scaleable growth. Something previous management didn't understand.
