Myer have never been known to update the market on sales outside of reporting season. This does cause the share price to drift lower as holders get nervous which in my opinion creates buying opportunites. Perfect environment for short sellers as well, as the risk of surprise announcements is low. During March, the market was thinking that Myer would go into receivership hence the dip below 10c. Now the market thinks Myer will survive but at what cost? I am not holding my breath for a market update but am happy holding as I foresee a strong bounce in retail in the 2nd half of this year. With a market cap of only $222m, if there is a strong rebound in retail, the share price could easily triple by christmas. Good luck all holders. By the way, i did go into a Myer store last Saturday in Melbourne and spoke to a few sales staff. They had a very busy day and were run off their feet. The store had quite a lot of people and most registers had queues. Good signs.
MYR Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
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