HLS has corrected 22% from its 2022 high as sentiment towards growth stocks has deteriorated on rising inflation – the same old story. However HLS has also encountered extra selling as the demand for COVID testing has fallen away as more people and importantly the government become comfortable with RATs. We feel this selling pressure is likely to continue at least short-term even after Treasurer Frydenberg made COVID tests for work tax deductible – HLS currently processes around 40,000 test a day. In our opinion value will return to HLS back around $4 hence we’re happy to be observers at this stage.
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Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
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Performance for February & 4 stocks we like here and now
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Thursday 28th March – DOW up +477pts, SPI up +60pts
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MM is neutral HLS around $4.50
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