RE: Could be a turn around18 Sep 2021 16:53
I think possibly the reasons it's being held back are firstly the results were good and expected, however the profits reported were partially false because of the cost saving measures implemented, so possibly MMs awaiting sustained profit making before rerate again. And secondly a large part of their revenues are from US markets, and despite 50% of revenues being contractual, until the issue with hiring drivers is resolved and covid rates are firmly coming down, the SP will be held back.
At this price it's a steal assuming it will return to pre covid business, and prior to covid NEX was on a continuous sustained period of growth which was reflected in the SP the previous 3-4 years.
Although stranger things have happened, and although I'm in for 100k and over 10% down, this is one I'm less worried about personally.