Stop loss reached position closed

Brad Holland

Brad has over 20 years experience in the Australian and US equities and options markets. Brad specialises in equities and options for capital growth, income generation and capital protection. He also specialises in finding opportunities in small to medium cap stocks. Brad holds RG146 - Securities & Managed Investments and Accredited Derivatives Adviser Level 2 qualifications.

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August 30, 2022

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GRR.AX | High Conviction Report

Yesterday the Grange Resources (GRR) position was closed when the stop loss level of $1.05 was reached.

The company recently came out with some half-yearly numbers that were weaker than expected and look set to trigger a downward revision in earnings estimates.

As seen below, for the six months ended 30th of June 2022, the company reported a statutory profit after tax of 132 million. This compared to the same period in 2021 was $205 million. While we still like the stock, this breakdown in earnings is a signal to exit and move on when conditions are more favourable.

Closed position result

Number of shares: 3,000

Entry Price: $1.31

Exit Price: $1.05

Loss: $780

This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.