They have no business expanding into Australia when their N.Z. operations were performing so poorly. Market is effectively calling management out to get rid of the cancer before it spreads. You'd be a "brave" investor to be holding this pup.
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They have no business expanding into Australia when their N.Z. operations were performing so poorly. Market is effectively calling management out to get rid of the cancer before it spreads. You'd be a "brave" investor to be holding this pup.
I’ve never worked out if one of the earlier supporters of Metro in Harbour Asset ever made money out of them.
Market cap has been going backwards fast - now well below bank debt so things are going to happen very fast from here imo.
Some very, very creative accounting went into the IPO process. Massive amounts of goodwill created out of thin air based on very creative growth assumptions. Years later the company had to hire outside consultants to tell them their growth assumption were complete corporate B.S., something I could have told them for free LOL. This company has consistently over promised and under delivered. No wonder the CFO wants out...I would if I was him, try and save the most microscopic amount of reputation while there is some left to be saved.
Share price reaction since the annual meeting tells you shareholders are woefully underwhelmed with the companies go forward "plan", if you can call it that.
This company fully deserves the markets contempt. Issues going forward with demand caused by the new competitor fundamentally undermine its business case.
You'd have to be very very "brave" to continue to hold. Not at any price as far as I am concerned.
MC of $55.6m. At what price will they start to look like a worthwhile punt? Maybe another 10% drop and I'm willing to put some money in it.
Geepers I am well underwater with this one :( Once again I have held on too long not wanting to sell for a big loss but it just keeps going down and the loss just keeps getting bigger! I must say I didnt think it would go down this far. Yikes what a silly bear! It is tempting to buy more and average down but I suspect that would just add insult to injury. Note to self, dont hold in a downtrend and dont buy in a downtrend!! ;)
The MC is pretty insane for a company making 15 NPAT, but the future looks quite bleak. Imagine if they got back to the 7.5c dividends - would be over 20% a year lol
yes bottom draw for me,take it out of my portfolio and forget about them.
It certainly has been the wrong stock to hold but that doesn't mean it is the wrong stock to hold, only the future will tell that. The good scenario is they use existing cashflow to repay debt and get this down without a cap raise. The problems in oz are resolved and the new competitor damage is mitigated. If all this happens the share price would probably double, triple or more.
The market is trying to guess what will happen and the share price indicates progressively higher probabilities are being assigned to down-side scenarios. The question is whether all the downside risk is now priced in, only part or too much.
Hmmm appears to be “trickling” up a little bit....starting with a 3 is better than starting with a 2.... no news that I am aware of but not complaining ;)
Up 6.7% today...now thats weird...:confused: