TWE has had the kitchen sink thrown at by China over recent times due to painful tariffs e.g. Australia’s sales of wine to China over the first 6-months of 2021 fell to just $13m compared to $490 million in 2020 illustrating that picking a fight with China often leads to painful repercussions- thanks Scott Morrison on this one. However, as is usually the case stocks run ahead of the news and optimism towards the coming years is creeping back in i.e. it feels like the worst is already behind TWE.
MM is bullish TWE targeting ~$14
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