Balance,it.must.be.the.cannabis.smoke.wafting.thro ugh.from.the.ASX:)
Printable View
4 years is a good tenure for a CEO these days. I agree with Balance, responsible officers cannot just dump their stock when they leave. If you look at what he has done in the past , its been about start up, and move on. Now, hes probably got substantial holdings in Wholly Bagels, and Promisia... and is off looking for the next iron in the fire....
Just my opinion.
Valuation coming back to something reasonable. Depending on how Q1 sales look relative to Q4 I'm thinking it might be worth buying a few more. New CEO needs to be solid but realistically we're not looking for the next Jack Welch - just someone competent with some marketing/retail/supply chain experience.
https://www.nzx.com/companies/PIL/announcements/299990
Hmmmm - 24% decline in 1Q 17 sales vs 4Q 16 sales.
There goes the growth story.
"The quarterly sales of $643,588 were up by 169% from the same period in 2016."
The growth story has not gone entirely.
However, I agree the departure of the CEO and Chairman is a major concern until we see news of replacements and the planned new products and Australia launch, there is a HUGE need for caution around this company as indicated by the Market's 50% reduction in the SP from last years highs.
I sold out as there is a competitive product available at half the price
The quarter that sales go backwards from a previous quarter is when the company will be marked down by investors whose definition of growth stock is one of sales increases consecutively quarter to quarter.
Too coincidental that CEO and Chairman decided to 'retire/quit' imo.