Is the A2 Milk (ASX:A2M) share price a buy?

Could the A2 Milk Company Ltd (ASX: A2M) share price be a buy right now? It has fallen to a 52-week low of around $10.

What’s going on?

The market continues to punish A2 Milk as it suffers with lower demand for its products.

It’s experiencing issues relating to infant formula demand. In August there was the flow-on effect of pantry de-stocking continuing into FY21 after the strong sales lift in the third quarter of FY21 and lower than anticipated sales to retail daigous in Australia, primarily due to reduced tourism from China and international student numbers.

In September it said that it had started to see additional disruption to the corporate daigou and reseller channel, particularly because of the prolonged stage 4…