Q: From a technical standpoint, I see that NWC had been within a fairly consistent rising 18-year stock price channel. Roughly May 2024, the price shot above the upper resistance of that channel and has been above that (rising) line ever since.
Question: Do you know of any fundamental change at the company that would justify the elevated stock price since May 2024? Were there some sort of positive changes within the company?
Question: Do you know of any fundamental change at the company that would justify the elevated stock price since May 2024? Were there some sort of positive changes within the company?
5i Research Answer:
From June 2024 to October 2024 NWC rose about 31%. The move started with very strong first quarter results, which saw multiple broker upgrades to follow. The company also increased its dividend during this time, further showing confidence in its future. Same store sales rose 4% in that quarter, much better than expected.