Ten days ago National’s Housing Minister announced an inquiry into the cost of building materials:
Nick Smith, speaking on “The Nation” said there was significant concern that items “the likes Batts, likes of Gib and concrete” were more expensive than what they were in Australia.
Batts and Gib are Fletcher’s brands and the company is a major concrete supplier.
Here’s what’s happened to Fletcher’s share price over the past thirty days:
According to the Steven Joyce/Fran O’Sullivan theory of political sharemarket vandalism, Nick Smith has ‘destroyed’ about $260 million dollars worth of wealth in the last ten days. I look forward to their columns/press releases warning of capital flight, skies raining blood etc.