I have been looking for a COVID friendly stock, apart from gold, and this is something that appeared on my radar. Greed can take you only that far. I think the recent announcement is a good step in the right direction. They had to raise that money for expansion and giving it to friendly investors is a very smart move. It is smart and sometimes it is out of necessity as nobody else wants to...
To me, this is a raise to help expansion and with the profit margin of this sector growing and cost going down, it is a no brainer.
Google all the other "Glove" companies out there... They are making loads of money. Cashflow. Even Bloomberg is covering this sector.
I am a shareholder and I have a biased view but I think the price currently is pretty much ground floor. From a punter point of view, the raise is the base. They want to make money. They are not here to make 5%. They can see the COVID situation is going to give them greater margins. Remember, the source of gloves, the rubber... is going down in price..... go figure.
I think this is a good bet. Just need more investors to think the same way...
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