Chemical and explosive business ORI has not recovered from its COVID sell-off although we should note the stock started turning lower back in 2019. Mays half-year results had no major hidden surprises although it did disappoint delivering a 9% drop in revenue and a 25% decline in earnings, this could become a classic case of the worst is behind us. Hence MM feels this is a prime candidate for a recovery play which has been a theme over recent months with a number of underperformers rallying strongly.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 19th April – DOW up 22pts, SPI down -55pts
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Market Matters Research Lead Shawn Hickman with David Koch
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Thursday 18th April – ASX200 +32pts, Resmed (RMD), Transurban (TCL), Santos (STO) & SRG Global (SRG)
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MM likes ORI as an aggressive play
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