Having only skimmed through the commentary of the reports, it...

Having only skimmed through the commentary of the reports, it appears like this is an absolute disaster... however is there anything in there that the market was not already alerted to? It's going to be a tough day today no doubt, but there are a number of green shoots in there as well. Clearly the stellar growth is behind us (at least until we are on the backside of the COVID piece or potentially forever given the ongoing geopolitics).

The unwinding of the Daigou trade has long been communicated and looks to have largely been unwound now (given Australia was closed for the entire reporting period).

So is this the point at which we can baseline the company going forwards?

In amongst the rest of the horrid numbers, it is still profitable, has a mountain of cash, a great brand and some positive commentary around the changed direction. MVM looks like it could be a complete waste of cash that many saw it to be in the first place...

Do I wish I had of sold at $18/ share. Absolutely... I am not ready to jump off the a2 rollercoaster just yet, but hHolding this one and TWE through the past 12-18 month period has certainly been character building!