Hi Charlie, we have had some long term investors who bought in much earlier at much higher prices and got badly burned as a result. Their sentiments are quite understandable. It happens to all of us from time to time. Luckily with Veris, I bought in at current prices. One thing that is clear to me, is an overhang on the sell-side which is holding the price at around 7c. And until that overhang clears, the share price wont budge much. But for those who believe in the future of Veris, it means there is good value. In fact, at current prices it appears to have little downside risk.
I think most of the hard changes that were needed, has now been done. I am personally happy with the rebuilding process of the company, and really like the human resources focus with more women coming into key roles, more indigenous hires, great training, working with TAFEs etc. Within my share portfolio I see Veris as a unique stock which has great upside and low downside. With most of the deck chairs in place, I believe the first half for FE23 will likely show positive numbers, and at that point it will rerate to a higher level. In the meantime, I would not be surprised if a large construction or engineering group tried to buy Veris, because it would be a valuable asset to acquire. Charlie, you can reach out to me at
[email protected] if you would like to have a phone chat.
