Seems UBS was selling down - a lot of selling pre June 30 pushed the price down. Although some weakness could be due to concerns about viability of the Darwin abattoir i have often found with AAC the share price can overreact to press and in June we had
(1) confirmation of El Nino - even though this often does not impact the bulk of their properties in the north
(2) Barnaby Joyce and others talking about foreign investment restrictions on agricultural land
(3) big negativity about $Aussie falling - although a lower dollar helps AAC bottom line a foreign investor in the stock might get nervous
Not much logic behind the above - my opinion is the stock goes much higher in next year
AAC Price at posting:
$1.36 Sentiment: Buy Disclosure: Held
