TSX:INO.UN - Post by User
Comment by
flamingogoldon May 10, 2024 1:41pm
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Post# 36034001
RE:RE:RE:RE:AGM
RE:RE:RE:RE:AGMJust to add how terribly viewed the sector is one just needs to look at MRT.UN. I have owned that one for over 2 years. My average is at breakeven but with distributions I am in the green.
It is a stock that has a combined 80% ownership between it's CEO, parent company MRC plus a +10% investor. The stock is still paying a distribtuion (had two cuts early on during covid). Yet, despite all that the stock is still scraping bottom.
The one thing we need most is 1) rate cuts, 2) governemtn to mandate workers to 4 days a week (as of Sept it will move from 2 to 3 days) and 3) a sottening labour market. The latter is something that shifts the balance of power from the employee back to the emplorer.
flamingogold wrote: It doesn't matter at this point, the shorts can push it down based on lack of buyers. Just as mentioned how the AGM failed to attract investors in attendance, it's a sign there is little to no buying interest. Unfortunately without buying support I see this breaking below $1 and likely testing the all-time low again.
Short term catalyst would be a pivot by the ECB from their holding pattern to commencing dropping rates. Until then, shorts own this... for now, as they do for many office reits.
SIGG1 wrote: Flamingo, have you read the latest letter to unitholders? This sounds more positive than the previous ones, do you agree?