Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Dear James and Team, What are your thoughts on WOW as an short term opportunity. Almost at a 52 week low. Share price drop seems to be based on a supermarket beat up rather than fundamentals. I know MM is more about low trading turnover, but could this be a share with a possible short term rebound in 3-6 months? Charles
Hi Charles,
Woolworths (WOW) is certainly a company under scrutiny at present, its already made the press a couple of time over recent days for very different reasons:
Supermarkets remain in the political cross-hairs, accused of price gouging as the costs of living pressures increase but when WOW released 1H24 in February their underlying net profit after tax (NPAT) of $929m, was ~2.5% below expectations, not exactly the narrative the government is suggesting.
We like WOW as defensive play, especially is we see a news driven spike down towards $30.
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