Valuation difficulties5 Jul 2024 16:37
As discussed by Paul Hill on Vox today, when they set out the strategic revue 8 months ago business has continued to grow exponentially, so any bids were doomed to keep pace with the rapid growth. It made impossible to do a deal without a knock out bid, and in this market nobody is going to be able to do that. They worked out a possible target of £2.00 if growth keeps pace with current rate. The volatility is simply down to people betting on a takeover or not and loosing sight of what they do, what they have achieved and the quality of the business. I’ve been here for well over a year, trading in and out like many. Now the dust is settling and no more constrains on what management can say. May continue to drift for a while, but I’m back in for the longer term again