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Planning to flip back to positive as selling volume appears to be drying up.
MMS - McMillan Shakespeare
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Thats a nice surprise
galumay
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Indeed, very glad I changed my mind from holding these as a speculative punt and 'moved' them to my investment portfolio.
This is exactly what I did. I originally bought in back in August for sub $10 as a short term trade and sold pre election as there was already significant gains to be realized.
After the election, with the risk of Rudd/ALP getting into power removed (for now at least!) and also the price of MMS coming down quite quickly I got back in as part of my mid-long term hold investment portfolio.
Capital appreciation on the same day as announcement of an unexpected divvy is nice.
From memory MMS stated in a previous presentation that they would consider business as usual when the run rate had hit last year’s index plus budgeted (pre Rudd bomb) growth.
The graph shows index at 95% odd since election but based on above assumption I suspect index over last few weeks has achieved budget. (index 100% plus growth)
For this year’s numbers, the question is how much above budget will it go and backfill the 16 July to Sept 13 hole? Long term this question is irrelevant – the business is back on track – The legislative risk remains, but ironically it may be somewhat diminished for a while at least. And the risk derived as a function of price is far more acceptable.
http://www.asx.com.au/asxpdf/20131128/pdf/42l6p9l9vz630q.pdf
The graph shows index at 95% odd since election but based on above assumption I suspect index over last few weeks has achieved budget. (index 100% plus growth)
For this year’s numbers, the question is how much above budget will it go and backfill the 16 July to Sept 13 hole? Long term this question is irrelevant – the business is back on track – The legislative risk remains, but ironically it may be somewhat diminished for a while at least. And the risk derived as a function of price is far more acceptable.
http://www.asx.com.au/asxpdf/20131128/pdf/42l6p9l9vz630q.pdf
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skc
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A very good announcement. I agree with you that the regulatory risk is reduced... and chances are if it ever changes again it will be a lot more gentle and gradual - which means you can probably get out of the position without taking a massive one-off hit.
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It would seem that the euphoria over the BAU annoncement has subsided today. The continued volatility of the MMS share price suggests to me that either the day traders still have this stock in play, profit takers are selling the rally or some combination of the two. It will be interesting to see if the previous trading pattern returns with MMS hittng resistance at around $13.40 and selling down below $12.
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The question is, is the governments support of leasing an underhanded way of supporting car manufacturing in Australia?
If the answer is yes, then now, there really is no point in persisting with this scheme that supports leasing because it will now have no benefit for the Ausi economy.
If the answer is yes, then now, there really is no point in persisting with this scheme that supports leasing because it will now have no benefit for the Ausi economy.
Partly true. However the automotive industry is not just making cars. Its selling cars, maintaining / servicing cars. More new cars on the road is also better for road-users (safety) and the environment (see Libs direct action plan
)
galumay
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Pass me your crystal ball, i have some other shares I wish to know their FY14 half year results and future prices!
skc
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MMS is taking a hit today on the back of Toyota's decision to exit manufacturing.
Here's some rant from CLSA about the implications...
http://www.afr.com/p/opinion/toyota_end_to_production_raises_N8j63ZjiAIaqILxBLPpoPL
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MMS went under $10 this morning, intra day low ~$9.50.
There is a couple of downside risks floating around at the moment and the ever-present political risk is (deservingly) heightened at the current time. With that said, the price is getting back to pretty compelling levels if you assume MMS can maintain the model.
There is a couple of downside risks floating around at the moment and the ever-present political risk is (deservingly) heightened at the current time. With that said, the price is getting back to pretty compelling levels if you assume MMS can maintain the model.
The full draft of the not for profit working group was released via freedom of Information, last week - suspect that is influencing the price at the moment.
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I did see that and was wondering whether that was spooking some investors. IMO though, this is incredibly far from legislation. Given that even IF it was accepted in some form similar to what is suggested, it would take some time to implement, allowing MMS to respond by altering their operations and making any necessary adjustments..
