What’s Behind Macquarie’s Sudden Upgrade of G8 Education Shares?
G8 Education Ltd ( ASX: GEM ) shares have fallen 23% for the year to date. G8 Education is Australia's largest childcare centre operator, with over 400 early learning, kindergarten, and preschool centres across Australia under various brands. Recently, retail investors have embraced a 'buy in the dip' mentality. In other words, they have taken advantage of share market volatility to buy shares at lower prices. This was most evident back in April, when a record number of retail investors bought ASX stocks during the 'Liberation Day' dip. So far, this strategy appears to have paid off with the S&P/ASX 200 Index (ASX: XJO) rebounding more than 15% since then. Does broker Macquarie Group Ltd ( ASX: MQG ) think this is a good strategy in the case of G8 Education shares? Let's see. Macquarie downgrades G8 Education In a 2 July research note, Macquarie downgraded G8 Education shares from outperform to neutral. Th...