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  5. MTL: Hi Peter Mullen group results looked good except for the drop in net income due to foreign exchange. [Mullen Group Ltd.]
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Q: Hi Peter
Mullen group results looked good except for the drop in net income due to foreign exchange. There was also an analyst upgrade. Still, the stock dropped by over 4% today. Can you tell why the stock dropped today?

Asked by Greyhair on July 26, 2021
5i Research Answer:

MTL is still up roughly 34% over the last year, so some weakeness/volatility after an earnsings results would not be unwarranted. Analyst targets are going up after the release and we are not seeing a whole lot to pick on in the release or to point to for the weakness asde from general market volatility.