My Food Bag shareholders see silver lining in lockdown

Fri, 20 Aug 2021

My Food Bag shares have climbed almost 13% since Tuesday, when New Zealand returned to level-4 lockdown, as investors bet the meal-kit company would pick up new customers like last year.Shares traded up almost 8% at $1.42 today with investors buying even as the company’s executives talked down the benefits of the higher alert level at its annual general meeting.Chief executive Kevin Bowler told shareholders they were experiencing “some increase in demand” but warned operating under level-4 also increased costs and raised the r...

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