The “hey let’s publicly list our company right at the top of a “property cycle” real estate company McGrath Ltd (MEA) is having a bad start to 2017 with a trading update out this morning:
Swapping sales churn for agent churn is not going down well in the market, with MEA’s share price down 12% on the update. It’s been a bad idea to buy this stock from the IPO at $2, now at 75c a little more than a year later:
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