RE: With SFOR pricing still way too low...6 Sep 2024 19:46
I'm not sure that waiting for the market to turn is what this needs or we should be hopping for, Imean I would like this to be the case but we are opening ourselves up to disappointment again. I was holding NIO till yesterday and the share has been disappointing due to the EU, USA Canada heavily taxing Chinese EVs, that in addition to bad economic data from China and the current outlook on people not purchasing EVs a expected, I'm rumbling on but bear with me. Basically, the company has come up with good numbers in the latest statement, margin improvements, sales etc and the share price has rocketed. Casing point; the market/ rhetoric/macro outlook has not changed at all for Chinese stocks and particularly EVs yet the share price is up significantly. The point I'm making is that S4 needs to produce the goods and be profitable, without that, any rises are not sustainable.
Let's be clear, if S4 results are disappointing, this could go back to mid the 36s lows we have seen before.
I want to be able to trust that SMS has finally the business in order but the price action here over the last 8 sessions has been diabolical, as a heavily invested ordinary working man, the 24% drop prior to results does worry me.