3 March 2023 -
Scales: Initially Oversold
Scales Corporation shares managed to recover from recent lows last week after being oversold over the last 2 weeks. The full-year result ending December 2022 was mixed with China’s lockdowns affecting demand and pricing offset by its strong food business. Management still paid a half year dividend hinting things aren’t as bad as the market sell-off suggests given 11 of their 15 orchards were unaffected – ~72% of Scales’ output.
