Ann: AGM Chair and CEO Address, page-53

This thread is filled with descriptions of THE OUTRAGEOUS BARGAIN that is on offer, but I am yet to see anyone actually lay out a proper valuation framework.
Just because the price WAS over $6, does not automatically make $0.75 cheap....

And to those people who think there was nothing bad said at the AGM given that the inventory level has dropped a little, you might want to go back and actually read it properly.

Management basically say that they aren't worried about inventory, they are worried about MARGINS - specifically in the USA. Well if analysts were worried enough about inventory while management said they shouldn't worry, how worried should they be about margins now that management is actually worried??? The answer lies in the price action over the last two days.

P.S. Please don't take this to say I think CCX is still expensive, rather I think it is starting to resemble something more in line with peers in terms of relative valuation. I sincerely do empathise with those that are in from much higher prices - but what I do not empathise for is holders who come out with ridiculous and unbacked statements in an attempt to lure others in to "buy their bags" and bail them out of a shitty investment - its bloody gross!