In all fairness, its just not my strategy to try and buy companies purely for the reason of being oversold.
If that is your reason for owning shares, then it is a valid one.
But if your reasons are because you expect MRE to deliver solid earnings growth, dividends and you believe the stock is fundamentally cheap, then I would have to disagree with you.
While MRE could potentially deliver these things mentioned above, I believe it is HIGHLY unlikely given its past performance and current position. There is not a lot working in favour for MRE at the moment and I cant see how this is going to change.
MRE has a shocking track record and a company that got swept up in the nickel run and pushed to outragous levels. It didnt warrant being there on its performance.
I would also not hold a stock on the "hope" of a takeover alone. On that basis, every stock on the market is a hold. You would want more valid reasons than that, and as far as I can see, there arent any.
MRE Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
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