Getting out of Dodge, before it hits the fan. Shares being sold at peak.
Current Assets SOH way overvalued. SOH will be re evaluated when the true nature of the Trade War become apparent....and it will be around departure date.
Clarke is adamant there has been no channel stuffing. TWE are at best providing excessive credit terms.....lots of window dressing on the balance sheet. My estimate is also for bad debts too. Please all remember all the wine that was written off/destroyed/drained several years ago. In the wine business, issues can be brushed over for two to four years, especially with multiple vintages in the shed, and very hazy values, especially with 'Luxury Products' that also have delayed release times
The Wine Industry is a negative capital industry
There is money to be made when refinancing and mergers and acquisition occur. Or when facilities are arbitraged by smart operators
TWE Price at posting:
$16.38 Sentiment: Hold Disclosure: Not Held
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