Disagree with the first part of your assessment. I don't think it is owned enough by institutions to prevent price discovery. See below.
Total shares: 1,563,147,158
Share ownership:
32,416,058 (Private companies, supply chain etc 2.0%)
184,979,024 (Board etc... 11.83%)
651,730,809 (Institutions 41.69%)
694,021,267 (General public 44.39)
Apart from that absolutely agree with the rest. As far as fundamentals go this company is solid. As a technical trader I like going long on companies at the bottom of a downtrend as long as the company is in sound financial health, high future growth prospects and exhibit undervalued valuation ($0.89 based on last report numbers). So far I can only find few companies that fit this criteria at the moment MYX, HRR, & CMP. I usually dollar cost average while it is in this basing wedge pattern... i must say that chart wise MYX is in the more advanced stages compared to the others...
I've done very well doing this is the past and will continue to do so. One word of caution though and this is the main reason I have not backed the truck up in MYX. EBITDA will keep increasing in the foreseeable future, no doubt about that... 535.08 mil (June 2018) to 636.9 (June 2020). The problem is the NPAT! -145.11 mil for June 2018, June 2019 will be the first positive NPAT for MYX @ 59.87 mil
Unless their next numbers counters it
In the meantime it can be a bumpy ride. Regardless it will give me some more time to dollar cost average some more...
