'Mr Market' knows that with the exception of Gladys Berejiklian in NSW and very few others such as Barnaby Joyce (Deputy PM and Leader of The Nationals) our weak-kneed politicians cower at the mention of 'COVID-19 deaths'.
It's irrational because annually in Oz, almost 50000 die from varied caners. We rarely hear a peep from pollies about this, or other leading causes of mortality.
Since 18 August 2021, less than a month, JBH had declined from about A$50.50 to around the $44.70, a decline of about 11.5 per cent.
So a MYR drop of around five per cent today, while unwelcome if we're holders, is not precipitous in the circumstances.
My hypothesis is that like JBH and numerous other retailers including MYR, online sales, despite rising, cannot counteract how physical stores in NSW, ACT and Greater Melbourne at present are closed. This can worsen at any moment. In-store shopping in FY 21 from memory accounted for 79 per cent of MYR's revenue.
Perhaps also there's some skullduggery by 'forces' but others are better placed to evaluate that.
MYR Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
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