Department store retailing is trading strongly, relative to the overall. This category obviously includes DJ, Kmart and others, but the sector is doing OK. Our question, or course, is where MYR is at, below or above sector perform.
According to Shortman, MYR is the most shorted stock on the ASX at 16.79%. I think the shorts are in for a nasty surprise 1 Sept when MYR reports. They have had nearly a full year of sorely needed extra liquidity from the rights issue, giving them the freedom to play the traditional big retailer game of arbitraging suppliers and customers.
I am very bullish this dear old cow. I think it capable of a surprising turn of speed.
DYOR
Ash
MYR Price at posting:
$1.12 Sentiment: Hold Disclosure: Held
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