I suggest that you also factor in the questionable trading pattern in the week leading up to the release of their annual report and ask why their daily traded volumes more than quadrupled compared to the rest of the year in the week leading up to the release of it? On the 10th August AX1 were trading at $2,80 per share, today at time of posting they are at $2.16 per share? Compare that to other retail stocks eg Myer, JB HiFI, Shaver Group etc and those issues are not there. Some questions need to be answered by the company especially in light that their final dividend has been cut by more than 20% compared to last years final dividend.
AX1 Price at posting:
$2.17 Sentiment: Hold Disclosure: Held
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