This market can't see a good solid result and value it accordingly but that gives investors a chance to get on board.
Look at Z1P today, absolute garbage result revenues dropping, still making losses and bad debts tripling and the stock opens up 10% with a 3+ Billion MC wtf lol, some people got taken badly on that and probably deserved it.
Happy to hold this and watch the steady ascent to fair value. IMO current price does not reflect the quality of this business and track record delivering strong ROE year on year.
And to clear up the JK argument: AX1 was still much worse off for the store closures when comparing the decline in sales $$$ to JK $$$ received.
All owned stores were closed to customers from 27 March and progressively reopened through early May. Sales in March and April declined by $55.7m or 58% compared to the prior year.
Given the collapse in sales, the Company qualified for $23.9 million in Government wage subsidies across Australia and New Zealand from April to June. These subsidies were announced after the Company’s decision to shut down its stores.
AX1 Price at posting:
$1.55 Sentiment: Buy Disclosure: Held
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