Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Big thanks for all your work! I'm sure I'm one of many wondering about what to do with JHX after its 30%+ decline. It's up today to around $30 and as you noted, some brokers anticipate a "30-40%" recovery. But if it's tied to the US housing market, could be a long wait before it returns to its previous price point around $45. Not planning on doubling-down, but at what price would it be a buy? Would welcome your thoughts. Cheers, G.
Hi G,
We are with you in not planning to double down although there is plenty of bad news in the share price around $30. The company has literally kicked investors while they were down:
We plan to let the dust settle but at this stage we are more likely to sell the bounce, as opposed to buy the dip. We believe sellers will emerge well before a 30-40% recovery. JHX rallied another 4% in the US on Friday night, so expect further recovery come Monday.
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