Yes, the market has been pricing deteriorating fundamentals, for a long time. The ship is definitely turning though, and the macro environment is becoming more favourable. @hankreardon previously captured it well, I think, and @mistaTea has been my go-to mean for deep business specific and NZ insights, for quite a while now.
If this was a founder-led business, with strong insider ownership, I have no doubt it would be a 10% to 20% position for me. As it stands, I'm in at 7.5% of my portfolio.
Ann: Sky increases guidance as positive trends continue, page-12
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