Do you hope i think Meanarow is correct is wrong? or do you hope that prices will not go lower before higher. I do believe what he said and I do believe price goes lower which i have shown with math and examples of in the past.
It will go lower because with a price of AUD 6.00 and 100M in profits in FY 2024 that means the PE would be 100M / 935M shares for a EPS of $0.11.
6.00 / 0.11 = PE of 65. I have never seen a stock whose profits have fallen from $542 to $100 in two years have a PE of 20 never mind 65. Can you point out any stock whose profits have fallen 81% in two years that has even a PE of 20? i cannot.
LYC Price at posting:
$6.67 Sentiment: Sell Disclosure: Not Held
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