focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Same pattern as 2 weeks ago. Seller coming in and dragging the sp down. No accompanying RNS on holdings so far. Volumes relatively low so it doesn’t take much to shift this when shares dumped over a short time period. Frustrated to say the least but nothing has changed.
It is easy to get emotive about the company and the macro situation as a whole as you see the little red % loss grow and it is normally part and parcel of investing. Take the good and bad days with equal measure.
However, there seems to be a case for an exception here as this is a public ally quoted company on AIM that requires our capital. The idea being in return we get information that informs our decision making process - sell, buy, hold etc. That side is not being adhered to and as a result makes it less attractive to new investors and frustrates holders to accept loses and sell up.
It seems so obvious that this needs a detailed strategy of where we are, where we would like to be and talks with potential acquirers. it makes the directors easy targets for those suggesting they are simply happy to pick up their wages.
In the meantime we are left with some embittered holders like myself to a degree . However, I misjudged this company when investing so in many respects my fault
There is no fund selling out. This is just mirroring the general market trend away from risk.
The fall today (although completely unmerited) is due to RBC cutting its price from £13 to £8 and outperform. The irony being that is nearly double the current price.
This company has a strong and very articulate CEO that understands how to build a company. It may take a while but the sp will return to former levels. The financials support this and even with a two year period of internal investment that should begin to manifest itself in H2.
The accounts are solid. The company is poised for growth.
I suppose we have to be careful what we wish for! If we formally announce this news without accompanying it with offsetting positive news we could be even further down.
A more proactive and positive agenda needs to be adopted. Wait and hope seems to be the order of the day but most here are sitting on large % losses and are well aware what that has brought us.
Make a deal - the value is in the licences not the business per se. Come on earn your salary - doing nothing but waiting for California to adopt new gambling laws in 2024 is not acceptable.
Really surprising to see the gains over the last few weeks wiped out in a day or so. It seems a reduction in a position by a large holder, reasons unknown. However, cannot see anything in the public domain that contradicts a story of growth and increasing EBITDA. Higher revenues should increasingly hit the bottom line with the fixed costs pretty stable. This is a gem and especially in the current environment- a great investment.
For a public ally listed company they seem to have scant regard for either investor engagement or any proactive strategy to move this company forward.
Seriously we were informed if end of March timeline passed we would get an update? Add that the repeated comments on looking at strategic tie ins that never happen it borders on negligence.
So frustrating as they have the licences but absolutely no takers.
Just noted California announced it is now $32 billion in debt worse than anticipated due to the current economic climate. I can see there is no getting away from legalising online gambling as it is a quick and relatively painless fix for many of their woes. I just wish the process wasn’t so long winded, but on the basis markets are forward looking by 6 months maybe a crumb of hope to hold onto.
Maybe a wry smile rather than a happy one. Never like to hear when someone’s hard earned savings disappear in a public company trusted to deliver growth.
It is a shame WEB can’t meet its own promises regarding updates. As they say revenue is vanity, profits sanity. Revenue is high but expected in this industry but converting to profits seems beyond them.
I hold in hope as there is a deal here to be done but the silence is deafening.
Anyone got anything positive to say here? I suppose in 2024 a renewed attempt at a break through with the California legislation will be on the cards but that seems a long way off.
The lack of concise and considered direction is worrying and I say that based on historical statements and accounts which seem to bare no relation to subsequent actions.
Someone cheer me up (preferably WEB board). Do a deal and we can all move on
Don’t understand the corporate strategy here any more.
Told in historical annual accounts investment required to update tech. Nothing happened.
Losing money each year. The value of the company is solely down to the intangible assets (licences) and each year told we will look at strategic alliances and opportunities.
No update on Arizona which were told we would be updated on if the end of March date didn’t occur.
Start creating value or sell up. At the moment the board are overseeing a loss making business, time for a step change.
2023. At present, we are simply awaiting our license hearing from the Arizona Gaming Commission. We expect this to be completed no later than the end of March 2023, but will inform shareholders if these dates change. We see this as an important revenue earner in its own right, but also as support for our Cal Expo operations. In addition, it would provide us with extra leverage outside of California.
So the above was taken from the February update. Seems they have forgotten what they committed to already!
What is the strategy here? It seems they are just sitting on the intangible assets (the licences) and hoping for the best whilst the rest of the business struggles to make a profit.
This needs shaking up and a proactive management to create shareholder value. It is so frustrating seeing the drops every day after seeing the same comments from the board this and last year about the wish for strategic alliances that never happen. Get on with it!