Down 12.5% this morning means......22 Nov 2016 12:10
........only one thing.......its top up time !!!!
I had a good read of the statement and the board changes announced, the headline figure sounds alarming but a lot of profit was moved 'internally' i.e. retained within the company's coffers for the company's expansion going forward.
There may be a bit of negativity hanging over the stock for the next few days or so but what doesn't change is the pipeline of production and all the spin-offs going forward together with the growing Chinese market and as previously mentioned the merging of tv, media and mobile platforms.
With all the big US tech companies sitting on mountains of cash and with the dollar in the favour, I don't envisage ETO to be an independent company for much longer.
The failed bid by ITV was far off the mark in the Summer but the lofty valuations back then may have to revised by around 10% or so.