When it reached $24 intra-day briefly back in March it pretty much never looked back and has climbed ever since to touch an all-time high of $53.90c.
The big buying was back in Feb by Fisher Funds then again when it plumbed the depths in March. So you must take that on board when considering any purchases of this stock. It has gone up on relatively little stock - one or two million most days with sort of pepper potting of $5-6m of turnover.
But things are a foot. Management is pleased with the results getting new clients and seemingly thriving in this covid period when others have wilted. I would expect nothing else. AND question management if things were to flatten off BUT it hasn't.
So i will make a prediction. I expect to reach that $100 a share mark in around about 5 years with around $6B in revenues.
In between times I expect the stock to come off the boil soon AND that's when to buy. Perhaps next year when we are kinda going to have to face the facts that we - New Zealand Inc - are well and truly ....ed and the markets will start rocking again.
Until then DYOR and careful out there, there is only one of YOU.
Mainfreight @ Share Investor
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