Seems like the sell-off has come from the H1 2023 of 25-30...

Seems like the sell-off has come from the H1 2023 of 25-30 million vs 50 million in 2022.

But group dependency has already shrunk so significantly in Africa from 2021 to 2022, I am surprised to think with 26% there is still more loss to be felt here. But it seems Minelab was their biggest contributor to sales and most exposed to the African market. I do wonder what the addressable market is for metal detection in other countries considering the unprospected nature of African minerals but I'm not an expert in this field by far.

PE is sitting at 7 with current EPS based on NPAT and even if NPAT should halve PE would be at 14 which for a tech stock is viable on both ends.

I can understand market sentiments that are more favorable than the first post I was writing but I still don't support them. The world is experiencing volatility, it would be a win for any company right now not to downgrade profits you can invest beyond the domestic market a business operates in let alone the global economy, the fact that this business has maintained its moat, its brand and continue to diversify within the scope of their model and secure contracts is indicative of strength. While their debt is not great manager seemed to indicate they know this should be addressed sooner rather than later.

I don't doubt this stock will perform very averagely in the next 1-2 years but the average is a win in the market we are moving into.

Those who are selling to move money into something better performing are either green to what we are facing or are money managers bound by an obligation to try and "beat the market" at any cost.

my takeaway is that stock is likely set to do just okay in the coming years but okay is better than doing terrible. I think the price is set to fall further until investors literally see the blood on the walls with the global economic environment hence why I don't think a buy sentiment just yet is good.