Company
Max Stock
+11.94%
Base:557.9
opening:580
High:659
low:580
change:1,462,853
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Engaged in retail trade of household products. The company imports and purchases various products and markets them in a chain of discount stores nationwide.
The company’s stock has been suffering from negative momentum recently and has so far lost close to 50% of its value since the beginning of the year. Now, apparently, the company’s management has decided that the share price is too low and that it is a worthy investment for the company’s money, so the management has announced a back-up plan (repurchase of the company’s shares).
The company’s announcement stated that in accordance with the board’s assessment, given the company’s share price in the market, the acquisition constitutes a proper investment of the company’s cash balances. The back-up plan is for up to NIS 40 million. Following the announcement, the company’s share jumped 12% in trading on the stock exchange today.
Max Stock is traded at a value of NIS 889 million after the jump today and the declines since the beginning of the year. The share price reflects to the company a profit multiplier of 13.3. In the last quarter, the company reported a decrease in net profit to NIS 10.9 million, compared with NIS 17.9 million in the corresponding quarter and NIS 11.3 million in the previous quarter.
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