JBH has already weathered the Amazon storm when it focussed on what it does best, now it’s time to endure the headwind from the RBA. JBH is carrying a 7.1% short position that’s still steadily growing as traders expect deeper mortgage pain through 2023 i.e. an easy stance to understand. In terms of insider buys/sells there has been no activity over the last 6 months with 897.63k shares held by those in the know i.e. no bearish read-through here.
- We aren’t yet pressing the buy button towards the Australian consumer but JBH is one of our favourite vehicles when we do.
MM likes JBH into weakness down towards $40
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