Luke Bunt (Director) could use his Pumpkin Patch learnings to make Comvita great
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Luke Bunt (Director) could use his Pumpkin Patch learnings to make Comvita great
So it was up 41c today, 13.18% or adding $20.3 to its market cap by the CEO quitting!! :confused::confused::confused: Says a lot.
I think it highlights that there are a lot of idiots out there... seriously the fundamentals haven't changed its still massively over valued and if .... and its a big 'if' the CEO was indeed incompetent and out of control then what does that say about the BOD? Is the governance so weak it can allow a CEO to ramp and dump the share price to the level we have seen over last 52 weeks? The board will try to drip feed the bad news they are sitting on for as long as possible in the hope that a hail Mary gets them out of jail.
There will be a dilution through discounted capital raise and there will be a stock write down.
Agree 100%...as to the rest of your post I would simply reiterate what I posted last month, extract herewith "I honestly don't know how anyone can have confidence in the board or the CEO now. Surely its beyond any reasonable doubt now that fundamentally their business model is broken and massive change is needed at the top and a completely new strategy needs to be invoked".
Emphasis added.
My analysis suggests if this was a well managed and well governed company, (and it clearly isn't), it would only be worth $1.50 - $2.00.
The current price is a relic of a bygone era when Manuka honey was perceived as being really special. Reality has yet to bite properly...but it probably will and quite soon.
Well I certainly feel like an idiot. I bought 5k at 3.02 and put it straight back on at 3.22. I always sell too quickly.