I may have omitted a further possible reason: despite the gyrations in the A$, some sellers of GNC shares may perceive that world grain prices plus a possible - not definite - higher A$ may crimp returns and hence either make it harder for GNC to sell stocks, or as we've discussed above, have growers leaving harvested grain in on-farm storage.
But that's a pessimistic view and given I sold GNC at a profit and then repurchased at a lower share price, for once I am reasonably optimistic that the stock has been oversold. There's a fairly good chance that the pessimists will be wrong this year, although it's still somewhat of a gamble.
GNC Price at posting:
$3.99 Sentiment: Buy Disclosure: Held
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