Brokers upgrades, page-35

Market Manipulation by the big players... suspicions.

Macquarie Group severely downgraded Appen several times. MQG is only concerned with manipulating the market in their own interests and their ethics and credibility has to be questioned regarding their involvement with the NUIX IPO.

The Capital Group of Companies bought in big and then sold out big soon after. Why is this? We can only surmise. Such an action is obviously going to produce a big negative effect on the Appen share price. What would they have to gain by doing this?

The Appen share price could be being manipulated down to make it an easier target for a takeover, perhaps.

Conspiracy theories abound.

One could easily surmise that various interests are trying hard to undermine the Appen share price and the company's credibility and future prospects for their own ends.

On the one hand, the market might just be generally and genuinely nervous about the future role and sourcing/competition of AI training data, of course.

But on the other hand... who knows?

It is difficult to rationally account for such a substantial fall from grace of Appen in spite of its earnings forecast downgrades. $43.50 to $11.36?

Appen Trading Update May 19, 2021.
- Year to date revenue plus orders of US$260M at end of April 2021, consistent with prior methodology.
- Heavy weighting due to underlying EBITDA in 2H21 due to:
- Key projects that were delayed in late 2020 are returning with a skew to delivery in 2H21.
- 1H21 reflects full year cost of 2020 hiring.
- Resource optimisation benefits to flow to 2H21.
- Full year underlying EBITDA of US$83M - US$90M is maintained