....and you did well with the other white gold stock in Synlait as well didn’t ......before they headed down the pink path eh.
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As you'll well know, sometimes the shorts trigger the squeeze themselves, trying to beat others to the draw.
Now within a week of fresh company news (and associated insider leaks, which seem so common in these antipodean markets), the risk of getting caught on the wrong side of the trade is rising exponentially. Of course some shorts will be closing out their positions. Then a few more, then some more...
On your marks, get set...
:t_up:
I guess it depends what you consider good news?. I'm certainly not expecting bad news. I might be proven wrong, but I'd be very surprised to see a 3rd downgrade of FY guidance. It also depends what the market has 'priced in' with the current SP. Has the market priced in a 3rd downgrade, which may or may not eventuate. What happens if there isn't a 3rd downgrade? (I know the saying downgrades come in threes, but these downgrades are covid related, so rather difficult to use previous trends to determine the future when a one in one hundred year event is the cause).
The data available in the marketplace suggests a recovery is underway, corporate daigou increasing, milk powder exports from NZ to China increasing significantly, lockdowns in Australia are over for the time being, and the vaccine is now being widely distributed. Personal opinion, but the worst is behind us.