Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Prior to EDV’s trading update this week I understand you were positive on EDV at around the $4.50 mark. Their share price is now close to an all time low. Do you believe there is value emerging around the current level of $4.25.Also do you believe their current dividend is sustainable or will we see a reduction in dividends given the soft update. Chris G.
Hi Chris,
EDV is another perfect example of the weak getting weaker in 2024 with an absence of turnaround contrarian buying across the ASX. The stock hit an all-time low this week after its 1Q FY trading update with the company noting a drop in comparable-store sales and achieving retail sales growth in the 2nd quarter is likely to be challenging.
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