They're not really value investors though, are they? I mean they...

They're not really value investors though, are they? I mean they are investing in more cyclical / short term stocks (Webjets of the world, silver mines, etc) - which is fine, but just means their investment thesis would be much more focused on the cyclical aspect of Tassal and the re-opening trade. If I was short term focused, I'd be much more concerned with the anti-salmon media attention than if I was long term for example.

My data tells me that the export prices have bottomed, they are trending to top quartile performance for the year (2018 style prices), but the cost of air freight is substantially higher. So net export price is probably around the median performance.

In terms of domestic, it's been more of a substitution from wholesale to retail and the margins there are slightly lower, but volume is holding up. All this is already factored into the share price though..