MFG 1.98% $9.81 magellan financial group limited

LOL!!!!!!!!!!!! WOW UP 70 CENTS IN 2 DAYS LOLOLOL OMG.People...

  1. 670 Posts.
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    LOL!!!!!!!!!!!! WOW UP 70 CENTS IN 2 DAYS LOLOLOL OMG.

    People like you are what makes this forum so insane sometimes. It was up 70 cents in 2 days, wow, omgosh. You have such selective vision that you decided to omit the fact it's down how much over 2 years?

    How did it go? Was it something like $62? Then $30? Then $20? Then rangebound at $15-18? So many of you thought "lol gee the share price is down, time to load up on this for the divies!!!"

    Who could have possibly thought that a company with diminishing profitability would... wait for it... CUT ITS DIVIDEND! Let's follow that 16% yield all the way down to $9 and then laugh about it going to $10. It's all jolly peaches and cream here in the buyers' heads.

    On top of this, how much did the dividend get cut yesterday? 57% - that's an income stream reduction of more than half. If you're in retirement, you just got your ass handed to you along with 30 cents from the 70 cent rally you decided to get high on.

    Last edited by SaltyInvestor: 17/02/23
 
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