McGrathmageddon free falls towards worthless

Thursday, 16 May 2019

Great stuff. Even as rate cuts come, MEA is in outright free fall, down 90.5% from float:

At $33m market cap it is now below McGrathmageddon himself’s cash out price.

He should delist urgently. MEA’s market reputation is clearly finished. The proprietor’s name name is associated with that and the public rout now risks destroying the company’s brand as well.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.