MFB - My Food Bag

[Toddy]

Chart peeking over the 180-day MA lane in the last couple of days. I take that as confirming the post-IPO downtrend is behind us.

It looks like the seller has returned.

[bulltrap]

It looks like the seller has returned.

Yup, as soon as I open my mouth, a big lone seller appears, and bidders run scared.

It's a jinx!

[Toddy]

Yup, as soon as I open my mouth, a big lone seller appears, and bidders run scared.

It's a jinx!

It's NZ. As soon as the Junior trader who has been given the task of dumping the big bosses position goes on holiday for a week or two we think we see a trend.

But no, they are back at the desk dumping the penny stocks.

[nztx]

Bound to be getting more & more sticky out on the Retail Tucker front, whether deliver to door, or go out to buy.

WHS & other recent reports on robustness of the local goldfish bowl wont be helping with legions hitting the exit
doors for over yonder, another pile getting dumped on their backsides out of a job and all the closures
& business failures happening

How will MFB fare in further hardening times ? the screws can only be brought down on costs so much
but if the volume starts declining, that is bound to take a whole lot extra to replace with new orders,
if it is even achievable in declining times.

[Rawz]

MFB probably fairly valued at these levels. It’s not like they are growing their income.

Only look to have stopped the decline.

[nztx]

MFB probably fairly valued at these levels. It’s not like they are growing their income.

Only look to have stopped the decline.

maybe so, but possibility that might lose traction as the recessionary fog falls lower too

[bulltrap]

Some positive media coverage yesterday:

Bargain Box, owned by My Food Bag, came out on top once again was awarded Canstar Blue’s Most Satisfied Consumers | Meal Kit Delivery Award.

It was the only brand to earn five Stars for Overall Satisfaction and Value for Money from Kiwi consumers.

[Rawz]

MFB SP has taken a bit of a tumble. Chart was starting to look like it was turning around

[sb9]

For what it’s worth, picked up a decent parcel at close today at 13c and doubled my holdings. May go down bit more, but based on their recent numbers and outlook, it’s good price for long term I believe.

[Rawz]

For what it’s worth, picked up a decent parcel at close today at 13c and doubled my holdings. May go down bit more, but based on their recent numbers and outlook, it’s good price for long term I believe.

Good buy. Must be very near the bottom.

Based on the last report it looks like customer numbers have stabilized however they haven’t given $$$ guidance so they must still be a wee bit worried about the economy and customer slippage?

Debt levels are manageable if looking at leverage ratio and ebitda to debt.