I was a strong believer too....but something seems fishy here, strange SP pumps and interviews selling the dream, yet no results, feels identical to the drop from a few years back
Please share the metrics ? Because p/e 12 on a downgrade with possible further downgrades on MFI trial, suggests it’s a bit heavy IMO, peel didn’t slash their rating for no reason
Apples and oranges, as ITM is potential based where as VIC are trading, I think there is a large seller still at work here hence the lack of 'bounce', it may well recover in time but will need to demonstrate at least 30m+ PBIT and for MFI to not be a leak
Why would it be ridiculous? seen plenty with drops even up to 3x-4x EBITDA in the past when coupled with large sellers, 70p would still be 10x, 50 at 8x.....
Why has it barely recovered this morning if the outlook is good....?
Im not really keen to enter, just observing - as metrics suggest over value prior to results, it only briefly tagged over a £ where as it was trading around 90s level most part....now with a profit warning and the MFI unknown, im struggling to see value at all
Agreed.... 260m seems a bit over inflated, 160m or so would be good 'value', but even then no guarantees with MFI, PBIT could easily slip into the 10s, and then you're looking at much lower