The dangers of becoming a market darling were brought home to logistics company Mainfreight (NZ: MFT) this week. Its share price, having risen steadily for three years, slumped by almost 10% on Tuesday after announcing a disappointing third quarter result. In March (MIR 622) I warned that “on normal valuations the company is fully priced, however the strong potential for a positive earnings surprise mean it should be treated as a SPECULATIVE ...