ORA
I would like your opinion on ORA. Unfortunately I followed you and bought some
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Answer
Hi Debora,
We own Orora (ORA) in the Income Portfolio purchased on the 16/11/23 at $2.56 and more recently in the Growth Portfolio on the 31/1/24 at $2.80, current price is $2.71 (1st March) – so it’s still within the range. We’ve bought stocks that have done a lot worse than ORA!
Ultimately, nothing has changed around our view on the company, the result was inline with our expectations although they said volumes were still struggling as high inventory at customers persist, which seems to have stoked some concerns about achieving their FY24 guidance.
As we said at the time, we were surprised about the share price performance, the market treated them very harshly on what MM thought was a solid result (meet) and guidance (maintained).
