Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM Team,
I’d like your opinion on you think frugal (FGL) as I’m thinking it’s time to sell. As more people have more money in their pockets I think convenience will become more important than prices.
Any insight would be appreciated and as always keep up the good work.
Paul
Hi Paul,
The rationale around convenience is a similar view to our own when developing a thesis to buy Metcash which underpins the IGA network. We haven’t looked closely at this $10m mobile based grocery price comparison platform previously but its certainly very volatile having just fallen over 40%. Technically below 5c the stock will look vulnerable to us for further weakness but as long as it holds key support around current levels, it looks okay.
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