AWC finally found some love on Thursday closing up +2.9% after a block trade of 50 million shares, 1.9% of the free float, traded at $1.07, it’s a 2-way street but obviously somebody sees some value in the embattled alumina producer as it tests multi-year lows. Last week we saw AWC declare a Net loss of $US42.9mn for the 1st half of 2023, not a quality business for MM at this stage.
- We believe that AWC is starting to offer some value ~1 for brave/aggressive investors and/or traders.
MM is cautiously bullish about AWC under $1.10
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