The market is happy to pay double today what it didn't want to pay just a few weeks ago when the company's capital raising floundered. Pretty munted.
What I will go to my grave not understanding is why Allensford/Geminder entities halted their 2018 takeover bid at $2.70/share.
They knew then what they know today in terms of turning the company around and converting some of that $800mpa of annual Sales, into profit. That turnaround is now happening, as they expected it would.
Had they persisted, and increased their offer (heck, even if they increased it by 50% to get the TRS directors to recommend acceptance), they would have had all the upside to themselves, instead of now sharing it with a whole lot of lucky minority shareholders.
Not that I'm complaining.
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TRS Price at posting:
$5.49 Sentiment: Buy Disclosure: Held
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