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IM recommended a buy on Omnia Holdings in July 2021 at R27.30. IM has consistently recommended the stock with several price targets being met and exceeded.
Ahead of the March 2022 trading update and results, Omnia rallied hard, taking the counter to a 52-week high of R83.59. Despite robust results and a positive expectation of earnings for the 2023 financial year, the market has moved Omnia lower 15.4% over the past six weeks. But much of this slide could be due to market lore of “buy on anticipation, sell on the news”...
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