@Berger978456 has said that he was happy to blow his 7k investment.
How far are you willing to average down? How much at you willing to put in and speculate, on not only a change of management, but a real significant improvement in financial fortune?
I was seriously looking at buying into MYR, but after the Strategy Update, that clearly showed it is not working, and then the Christmas sales update show that I was right to stay away. By chance, that money went into SVW instead - happy sliding doors moment for me.
The H1 results are not going to be good. I am guessing that they are talking to institutions about loans and restructuring costs. Yes, I think there will now finally be change at the top management and BOD level, but it is a big ship to turn around. It is going to cost money to change things - money which they might have trouble finding from banks. Possibly it will be Lew's play that he issues himself a chunk of shares to inject much needed cash (and/or debts being paid off). Six months ago they didn't want anything to do with Lew, but at this rate, they will be heading to his office with cap in hand.
It might be a rough ride and you need to be aware that not all businesses can be saved. You don't have to have too much of a long memory to see companies where ordinary shareholders have had to swallow significant losses.
Good luck.
MYR Price at posting:
42.5¢ Sentiment: None Disclosure: Not Held
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