RE: Third time people get excited too early24 Jan 2024 20:18
Kachrafilter, I agree with your overall sentiment but not necessarily how you got there. I've posted a few times today that we have seen this cycle repeat consistently since Fraser's started buying in June. It may well happen again.
However, we don't know that Boo is a complete mess, all we know is that Boo is performing in line with guidance. We know that it is a leaner business than it is a leaner business than it was a couple of years ago and it is a bigger business than it was precovid. We don't, however, know how far it is on the journey to becoming profitable again.
I come back to my original rationale for buying here in that I don't know of any other viable and scaled businesses that trade on a market cap of a little over three months revenue, especially when the trading environment should be becoming more benign.
I think there will be more news before May in any event, so the road ahead should be interesting and probably bumpy