The market most likely reacted to a few news which sparked the sell off - Polynovo will not pay final dividend - that was probably the key one - Negative EBIDTA (last year it was positive) - no company can sustain regular financial losses - Bigger loss than last year on Net Profit Before and After Tax. There is a significant deterioration
The news on 59% growth in sales was not sufficient to offset those things. Investors may be misunderstanding the fact why costs went up - this is because of headcount and overhead. Headcount is quite obvious - you need to invest in workforce if the company is growing. Overheard - I am not entirely sure on this one. What caused that increase?
Today the price bounced back though. Let's see where it lands by the end of the day.
PNV Price at posting:
$1.52 Sentiment: Hold Disclosure: Held
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