RE: Investment Case28 Oct 2022 14:23
yup crazy price.... it was valued around 7x EBITDA in the full year results drop to around £2, dropping from around 9-10x EBITDA,
Looks like this years will come in at the 20-25m mark worst case accounting for the revenue drop, and perhaps 15-20m next year if things don't improve.
But market share is still increasing and markets will flip for the better at some point..., so even at a silly 5x EBITDA basis it should be closer to £1 and possibly £1.40 on a 7x, it has already done a remarkable fall from the £3s to £1.10 which should have priced in most of it....
Directors bought in the mid £2s for a reason just a few months ago and NAV at interims were well over £1 a share
Anyway... it's clear there's a large II seller(s) around here, expecting a TR at some point and some directors buys
Silly silly price here
All IMO