There are some bot orders on FAN and I don't like it. Obviously WBC has been exiting the stock, taking profits from when they bought at $1.50 in 2014.
I just picked up some shares at $1.92 and they got snapped up instantly by an order that wasn't there - clearly someone wanting out.
As far as we know, WBC has around 8% of the company, so it might be a while to clear a further 8m shares... That's if they're selling their full holding.
Either way this company is a solid buy. The numbers are staking up and it's fair value is somewhere between $2.70 and $3. It's a buy, hold and wait patiently on this stock.
Also, don't forget that petrol prices have been at rock bottom boosting retail spending, and as rents increase consumers will tend to purchase cheaper furniture. I think this is a top stock and there's definitely value here.
FAN Price at posting:
$1.91 Sentiment: Buy Disclosure: Held
