to be fair a lot of what you said is the reality. However CO...

to be fair a lot of what you said is the reality. However COL and WOW don’t make supermarkets. Overall profitability isn’t super by any means. As the $CommBank (CBA.AU)$ and $Coles Group Ltd (COL.AU)$ CEO said go have a look at apples margins and lack of tax paid? COL and WOW are a few $ per $100. Hardly super; and that is why you don’t see other players bothering to enter the market. Albo slapped the supermarkets with what? A 7% wage increase, what did you expect would happen? Pass on the costs.
This is purely political. Wants to be seen as doing something for the cost of living and typically blaming someone else. If it isn’t blaming the liberals, he blames corporates. Whilst doing the bidding for unions which is ultimately causing inflation, not to mention their prolific spending also causing further inflation.
Agreed share price oversold, likely some woke capital has dumped on ESG grounds. This will recover, it’s at a multi year low on a PE basis where it usually trades >25x.
We’ve added significantly to our holdings here.