I continue to have more confidence in AMNF than any other position I own. Right now it is certainly a far less tense situation to be in a stock like AMNF where deteriorating geopolitical conditions, European and Chinese weakness, decelerating global growth, the end of QE3, etc. have little or no fundamental impact on the company, than in any other part of the stock market. People aren't too likely to quit eating. Amigo Mike is likely correct about the recent dividend increase being a sign of continued strength in sales and earnings. Furthermore, I know of no reason why that strength can't continue and even accelerate into the future.
Over the past few months the number of sellers below $2.00 seems to be slowly drying up. AMNF may be poised for another genuine breakout. However, the technical situation in the overall market appears very negative against a background of deteriorating fundamentals. The very weak oil market seems to confirm a strong deceleration in global growth rates, although copper is still hanging in there slightly above $3.00.
I will be very interested in seeing how AMNF trades after an expected good earnings report. A potentially imminent decline in the overall market might still keep a lasting breakout over $2.00 in check for a while. As always, anything can happen in the short term, especially with the recently increasing market turbulence, but strong fundamentals will ultimately trump any technical situation over time.
