The broader market has been down in recent days, likely due to higher interest rates here to stay for longer.
I think part of the sell-off is due to negative like for like sales so far in FY24 and what I personally thought was a disappointing number of store openings.
Both these points only impact the short term. Provided the business model is still intact, I think $19 is an attractive SP. However the market, being the unpredictable beast it is, could send the SP into the mid teens.
On one hand FY24 results will be lacklustre due to strong sales in FY23 and weaker economy. This could lead the SP significantly lower (especially when combined with higher interest rates).
On the other hand the long term business model is in tact and a China entry seems imminent (which would boost the store growth rate and runway for store growth).
I wouldn't place short term bets on this stock in either direction.
The broader market has been down in recent days, likely due to...
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Last
$30.37 |
Change
-0.600(1.94%) |
Mkt cap ! $3.331B | |||
| Open | High | Low | Value | Volume |
| $30.52 | $30.74 | $30.12 | $5.681M | 187.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33 | $30.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $30.42 | 1524 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$30.33 |
Change
-0.600 ( 2.64 %) |
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| Open | High | Low | Volume | ||
| $30.73 | $30.73 | $30.14 | 16512 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| LOV (ASX) Chart |