No, I disagree. The ASX 200 took an absolute hiding on Friday, down more than 2%, with tech stocks fairing even worse thanks to the Nasdaq dropping 5% the previous night. I can't see how its possible to separate all that from the effect of the AMS update to explain a 50% drop in the SP that eventuated. I'd say the sum of the two caused a panic selloff of AMS. Sure the forecast sales revenue is revised down from $95m+ to $80m-$90m, but that would still be higher than FY21 ($78m), and higher still than FY20 ($44m). And conditions in the market are still far from normality. AMS has been well oversold.
All IMHO, DYOR
AMS Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
