Thanks to hedge funds manipulating the media (falsely saying that AFG will be the next Rams or Centro), AFG is now trading on what could be described as a post-crash valuation, below NTA and at around 2.5 times cash. It is trading at these desperate levels, despite having no short term debt (unlike Rams, Centro, etc), paying a dividend well above 10%, and expecting double digit EPS gains.
If there is a major meltdown on US markets this week, AFG's share price today might well be justified. But if there is no crash, and given that AFG has solid fundamentals, and a likely ASX release tomorrow, hedge funds are going to find it increasingly difficult to justify continued short selling and will begin to quickly close positions.
Rapid covering of short positions will see the SP soar 40% in a day from current levels. Worth a trade IMO.
Thanks to hedge funds manipulating the media (falsely saying...
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Last
$1.63 |
Change
-0.045(2.69%) |
Mkt cap ! $439.9M | |||
| Open | High | Low | Value | Volume |
| $1.67 | $1.67 | $1.60 | $506.9K | 312.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10539 | $1.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.63 | 18042 | 2 |
View Market Depth
| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| AFG (ASX) Chart |