MWY – Midway Limited

Owned it a bit over a year ago and from memory didn’t make or lose much.
Have thought about the divvy opportunity with this stock, but fortunately did not rebuy. It is not a stock I personally should be buying as momentum is rapidly downwards.

Good example of an exit after big drop on 28/8/19, saving one from ongoing larger losses and ongoing pain and misery, unless you can look past the short term, which some here may be able to do.

The news was great mid year with high demand, rising prices and dropping $AUS. But that turned around quick with the full year result highlighting some headwinds and the recent announcement refers to oversupply and reluctant buyers, which should resolve itself soon, apparently.

Current price close to all time low from listing in late ’16, has a history of consistent divvy payment of .18/yr, so 9%FF from here for the value buyer, maybe.