I'm absolutely shocked by the market reaction today.
The market didn't like the cash burn, now it doesn't like that management have solved the burn and offloaded a ton of debt with the NBC deal and costs/burn gone.
They keep their technology, aussie team, brand and app and have 450m in the bank? Hopefully TAB or someone else realise how cheap this is!
Others should enter the bidding war with fanatics, fanduel/draftkings should pay to keep fanatics out of the market or utilise the NBC deal better.
PBH have an Australian business that people like and it turns a profit, a Canadian business that they can sell that has a casino. Yes it's not $16 high and people have been burnt but management have done the right thing today and struck a good deal.
If Australia is worth 200m plus the stock should be trading at $2.3.
PBH Price at posting:
$1.46 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)