Isn't this still a blue that just got a lot of bad rep lately? Not as if it's a company that is set for foreclosure or administration. Last I've heard, their business in UK is still an earner.
Plus, who doesn't or won't need a lawyer nowadays? Debt really changes fundamentals, but management is not the one causing the haemorrhage. They are still steering this and handling this all too well that they also bought in. A lot of bad rep due to an iffy acquisition and an ASIC investigation that will get resolved sooner than later. Probably those are the reason this is still being oversold lately.
Shorters will short, and traders will cut losses (especially those who bought in at 69c), but at the end of the day, would you sell for a marginal loss if you are already holding anyway, than to wait for this to either burn to the ground (HIGHLY UNLIKELY) or to bounce back up to even at least its middling state a couple of weeks ago? Just my thoughts...
SGH Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
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