Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Question for the Saturday report: BIS, a producer of high strength alloyed steel plates has significantly dropped this week without any reporting or news. Trades on a relatively low PE and pays high dividends. Do you have any views on this share, and do you feel the drop just because lower forecast steel demand from China? Keep up the good work Gerard
Hi Gerard,
BIS has been on a roller-coaster ride over the last 6-months, doubling, halving and then bouncing over 30%. BIS reported its FY24 result on Friday:
The stock bounced ~15% following the result but it remains well below its recent high. While volatility is common in small caps, this has been quite extreme. We’re not close to this company, and don’t really know why they’re experienced such a big move other than the usual economic/growth concerns, but there must be more at play.
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