I originally intended to be a long term investor in MIG. However, having held this stock for a year now with relatively no growth (unless you continually trade the darn things), and apart from a relatively pitiful dividend, the longer term share price has done Jack Rabbit.
However, hopefully the M7 can help turn things around.
Considering the M7 was not tolled until the 16th January and reaped an average daily revenue of $290K, to see the $336K average daily revenue for February, gave me some hope for an increase in share price.
Recent newspapers articles would also indicate that the Board of Macquarie Bank is also well aware that it needs an immediate review of its charges.
Hopefully with the M7 and a good announcement on fee structures, the share price of MIG should start to make some recovery.
Mind you, if they stop purchasing toll roads on credit, this will also give something back to shareholders.
I will hold my shares for a little while longer awaiting a fees announcement.
I originally intended to be a long term investor in MIG....
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