RE: Daily punt27 Jul 2023 20:22
Had a quick look, seems a bit complex that one eh?
30% down today but looks like issues before that and new ceo brought in to sort stuff out and found reporting of figures issues, SP down over 50% this month
depends if you think its overdone yet or is there more downside to come? result due in just a few days too, alongside the results will be details on transformation plan.
it's an interesting one. BB not much help, fairly quiet for weeks and obviously the ones chatting are none too happy.
but the timing of this RNS is slightly odd with the results due on 31st.
Has the new CEO decided to try and get a chunk of bad news out now? - so on 31st when market sees the report its seen as not that bad - and then sees the new transformation plan and decides that is good so SP lifts a bit? CEO seen as the hero and able to move the company forwards?
fundamentally though market cap is now only 50 mill - but they have 58 mill cash in the bank, projected revenue of 60 mill and 180 mill in assets....
it really does look like a steal at the current SP, even if it does bounce a bit slower
looks like a good spot swissy