In my experience, the market is sometimes (1) slow to recognise turnaround stories and (2) slow to recognise the magnitude of a company's potential.
The former is because the market will often 'punish' companies for past mistakes/misfortunes long after those mistakes have been rectified (whereas, in reality, good management teams learn from mistakes/misfortunes).
The latter is because many market participants act like sheep, ie. with a herd-like mentality. When one starts to move, others will follow. But until then, nothing much happens.
It's these features of markets that provide opportunities for savvy/patient players who recognise companies for (1) their current situation, rather than dwelling on the past, and (2) their future potential.
Troy fits the bill on both counts imo - past mistakes/misfortunes and substantial potential.
Hence the market has given Troy very little credit for the giant strides it's made over the last two years.
But I'm confident that a substantial upward re-rating will eventually occur. Not that there are any 100% guarantees - the wheels could yet fall off. But the risk-reward ratio looks very attractive to me.
TRY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held