Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi guys 9.09 am here so I hope I have made the cut off All the best for Christmas / new year PMV , I own it and the last report looked ok , buy backs coming profit up what am I missing I was thinking to average down to get back to 5 % weight but it is a falling knife at the moment , Am I wrong or is the market missing this one ? Thanks Glenn
Hi Glenn,
….13 minutes late but we feel generous as its Christmas!
PMV has had a string of weaker updates, the latest one at their AGM last week with weakness in Smiggle the main culprit. That prompted downgrades from
With discretionary spending headwinds likely through 2026 particularly if interest rates increase investors haven’t needed excuses to sell stocks across the sector since late October. PMV looks to have found some value support around $14 where its trading ~5% below its 5 year average PE, but its not “screaming” cheap yet. It feels wrong in the short term, until Smiggle can turn around; but buying overpriced PJ’s or nice to have stationary when the cost of a mortgage goes up is not high on many peoples agenda.
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