Net, MLX has got the proverbial speed wobbles and its a bit unnerving to watch for mine. Remember that recent Broker coverage pinned this circa $1.70 and north inside of 12 months but you get the sense that this could quite easily turn on its heals and plunge southward in the current environment. It is directionless but to be fair, a lot of the broader market is as well so not an isolated illness.
It's "strategic" plays of late I think have left the market a bit bemused amongst other matters but its balance sheet if pretty solid, has cash, is producing so the risk profile is not totally alarming.
Would just like to see it get solid traction again. RNI BOD must be absolutely ecstatic that they got aware their 18m share @ $1.30 circa when they did!!
Probably wouldn't even exist if current circumstances prevailed back a couple of months ago! They are borderline now as it is so perhaps not a lot of difference anyway.
MLX Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
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