AWC has had a stellar year, now up 92% making it the ASX200’s second-best performer. Not bad for a stock you couldn’t give away in January below $1! A takeover tilt from Alcoa in the US is the primary catalyst with the deal nearing completion, Australian investors will soon be issued with Alcoa CDI’s listed on the ASX, with one key detraction being the loss of franking credits on dividends.
- While this is a more complicated example, it is a clear reminder to investors that commodities are cyclical investments, which regularly surprise in both directions; the last year has seen lithium and nickel fall while copper and gold surged higher.
MM is now neutral towards AWC
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