RE: Investor Update13 Apr 2024 11:30
Even though we had an up day those late reported trades are not a great indication that there is a change of fortunes here. A fund or director is indiscriminately dumping but the big question is why?
On the bright side it doesn’t seem to be on company fundamentals, nor at a macro level due to sentiment in small caps, as the move to lower rates only makes the sector look more attractive.
I am hoping for a holding RNS on Monday and a cessation in the delayed reporting of trades trying to cover the sells. Unless there is a major regulation change on the way or some reason for Slingo’s run to stop I can only say the company still has profit growth well into 2025.
I spotted the pattern early and maybe should of traded but with a lot of things hindsight is great. However, barring a market revalation I think holding and waiting to be the best strategy, although a top up is an option based on the disappearance of the late trades.
Good luck. Just remember in a years time the cash balance is predicted to breach £15m against a current mkt cap of £87, plus EBITDA just below £10m. Those figures make a mockery of the current sp.