The algo's have the whole sector at their mercy at the moment. Their is a total lack of any serious buying support; the algo programs are detecting this and pushing down prices in the big 3 - MMS, SIQ, and SGF with ease.
Arguably, with the ever increasing number of new listed players in the field, and the (apparent) necessity to cut pricing to maintain market share the sector needs to be re-evaluated.
Regardless, for all of their shortcomings (which I have previously commented on) I do feel that MMS has been oversold and are due for a correction back to around the $12.00 level.
At the current price of around $10.75 the stock is a pretty safe buy, offers a forward pe (on my numbers) 10.4x and grossed up yield of about 8.5%
The algo's have the whole sector at their mercy at the moment....
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Last
$15.80 |
Change
0.050(0.32%) |
Mkt cap ! $1.100B | |||
| Open | High | Low | Value | Volume |
| $15.79 | $15.88 | $15.63 | $2.285M | 144.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1778 | $15.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.90 | 330 | 1 |
View Market Depth
| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| MMS (ASX) Chart |