You do know they spent $13.7m of that $20m buying some growth, right?
Are you concerned that it took Mitula over two months to figure out it wasn't a change to Google search algorithms that was the problem? Surely management are looking at site data every day.
Are you concerned that the owners wanted to sell the company, couldn't, and so listed in Australia?
Are you worried that the owners held an interest in a VC firm that held Mitula shares which should rightly have been escrowed, but weren't, and were sold asap?
Are you concerned that Google hates these aggregators, as they are pretty much worthless rent seekers, and Google will continue to change their algorithms to Mitula's determent?
Are you perturbed that the 10% of shares sold today may have been sold by holders that know a lot more than you about the company?
Any concern that a technical glitch at a supplier can cause a 30% fall in EBITDA?
As Zman said " It makes no sense that a short term technical issue can cause a 40% drop in the value of the company."
I totally agree, it make no sense, but rather than assume other market participants are idiots giving you a gift, I encourage you all to think a little harder. What would make sense to justify the fall?
I wish you all luck.
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