Ann: Customer update and FY23 preliminary results, page-8

I said two weeks back, after the -13% plunge on a Monday and seeing shorters on the rise again, that investors should expect a "trading update" in a few weeks as these shorters have insider info. I said very specifically not to bet against APX shorters because they know everything and are insider traders. I described in detail why appen is uninvestable, that it's just an outdated labour hire firm whose global service revenue is in rapid structural decline because the US tech giants no longer need them for deep learning. Facebook stopped using them last year for deep learning, now google too, by far their 2 biggest customers. And I said their venture into LLMs is unlikely to be successful when you look at all the executives leaving this company, they have no CFO CTO CPO (chief product officer).

Unfortunately, people did not listen. If buyers really believed in appen's LLM story and believed labour hire firms are still needed for a good while in RLHF, at least heed my advice on the shorters and wait for that trading update, I've followed them since 2022.

Imo take over soon if this stock plunges again.