Guidance downgraded today resulting in 24% drop in share price. Impact on sales and distribution from COVID has been worse then anticipated especially in the baby nutrition component of the business which had been performing strongly. Interestingly Chinese loyalty to the brand still appears to be strong and other products are performing well in Aus and US.

Current feelings are a possible market over reaction for an otherwise good business. Has been a great company but experiencing strong headwinds in the past 12 months. I think it has the moat and loyalty to survive in the long run but would need to be held for longer now possibly to let the thesis play out. Unlikely needing to rush in too soon.

Not sure if I'm over looking anything?

https://thea2milkcompany.com/newsroom/market-announcements/updated-1h21-and-fy21-guidance/