That's a good question. I do think the 26.5 mil options on issue have an impact as well as there is some dilution (~17%) that needs to be factored in.
MNY's biggest problem is finding the money to fund the loan book growth. The loan book is projected to grow by ~$70mil in FY17 compared to $27.5 mil earnings so MNY need to find the balance from borrowing. Certainty around funding is probably the major reason the anticipated loan book growth isn't factored in to the price.
MNY Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
