MYR the most shorted ASX stock on stockman at 16.89%. The market's profit expectations are very low. It would be easy to exceed them.
Recent ABS statistics on retail showed department stores were the best performing sector.
The rights issue went straight to working capital, which saves interest and provides massive flexibility.
Closure of several unprofitable stores.
These are small advances but could combine to modestly surprise.
If it produces a reasonable dividend, the divvy-hunters will swarm all over MYR and destroy the shorts. Ask yourself, if I were a shorter, would I join the most crowded trade on the ASX?
GLTA
Ash
MYR Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
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