I don't think Solomon Lew is the shorter, it is predominately hedge funds that have been getting stuck into MYR and have also been putting algo orders into the sell side to make it appear as if there is a lot more selling pressure than what is really there... its worked and longs have been selling it down.
MYR is now trading on a market cap not that far off Breville (BRG).
Just looking at some metics now and these are the result of MYR's turn around strategy over the past year which it highlighted leading to lower figures in the past year but given you now have a business the same size pretty much as BRG
MYR EBITDA $252m BRG EBITDA $77.9m
MYR EBIT $160.3m BRG EBIT $70.4m
MYR Net Profit $98m BRG $48m
Coupled with this you now have MYR on a dividend yield of 9.4% where BRG is on 4%.
Unless MYR is going absolutely down the toilet and no one is going to be shopping there anymore which I don't see on metrics basis it looks great value down here. Esp when DJS was taken at a PE of 21x, MYR is on 9x
But the shorters only going with momentum and that needs to change to the upside for them to cover
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Last
82.5¢ |
Change
0.050(6.45%) |
Mkt cap ! $686.2M |
Open | High | Low | Value | Volume |
77.5¢ | 83.0¢ | 77.0¢ | $4.439M | 5.489M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 23187 | 82.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
82.5¢ | 205907 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 23187 | 0.820 |
4 | 49689 | 0.810 |
1 | 22534 | 0.805 |
2 | 16329 | 0.790 |
1 | 1510 | 0.780 |
Price($) | Vol. | No. |
---|---|---|
0.825 | 205907 | 10 |
0.830 | 72401 | 8 |
0.835 | 105256 | 5 |
0.840 | 68926 | 7 |
0.845 | 36917 | 3 |
Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
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MYR (ASX) Chart |