Sometimes you need to spend money to make money, how long have...

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Bobblar

260 Posts.

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07/04/22

18:06

Post #: 60723900
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Originally posted by SOsoSlow: ↑

because it was very promising. I think its a really unique company and has good cashflow conversion. Management talked up how scalable it was. Even though mask sales were going to fall it has decent growth in core areas. Its earnings were great even if were always going to fall a bit and it was one of the most cash generative ecommerce companies on the asx. Then we get a new CEO and in the course of months he changes the strategic direction with a massive hiring spree. Even though its clear inflation is rising and interest rates are going up and its well clear the market wanted profitable growth not a sole focus on growing topline. What happened to the scalability the previous management had talked to? Earnings were crushed right as all these other headwinds had clearly emerged. So yeah - I blame management and I blame the board for allowing him to make so many changes in such a short period of time. The company has lost all credibility and is now a bit of a joke. I should have ripped the parachute earlier and never looked back.

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Sometimes you need to spend money to make money, how long have the newly hired help been in the job? They do need a while to find their feet in the company... I've only just started following this company (took a small position today) as the value and growth potential is starting to look attractive to me, will dig deeper over the coming days.

RBL Price at posting: $1.42 Sentiment: None Disclosure: Held
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0 Great analysis

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