You can only look at the SP and shake your head in disbelief.I listened to a broadcast by Searle and I actually liked the strategy that MKO were employing.
Plenty of Share prices were trading at less than their cash backing at the height of the GFC.TRY 70cents with an 80 cent backing is one that comes to mind.Im sure there were many others.Crazy crazy.....buying cash at a discount and the the assets for free.You didnt have to be a rocket scientist to work out that the SP would appreciate significantly once the markets settled down.Same situation here.
I have been critical of MKO but this one can easliy be multiples of todys price with some favourable news AND improved market sentiment.When??Who knows....
Good luck to all.
MKO Price at posting:
9.6¢ Sentiment: None Disclosure: Not Held
