The explanation that they only found out this week that Q1 had been impacted is BS. No way it takes 5+ weeks to realise claims had spiked especially when they state it's industry wide & therefore they should have been proactively looking for it. This should have been a price sensitive announcement well before the AGM. I think mngt naively thought they could pass it off a 'normal fluctuation' that would be considered already factored into the price. The ASX should be all over this but I bet they won't be.
Mngt thinks the market undervalues CVW, well they've just shot themselves in the foot about trying to change that perception!
This IMO is a stress point for the business, make or break, a low point in the cycle. Many other SME FS companies will be going through this in FY25.
CVW Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)