Yes ive been buying shit load and brought my average down to 9.1 but to be precise im down %35 with todays close
Low/no ARR growth Agree but not enough reason to make SP drop to below cash receipts. Apart from this last qtr where they indicated that re-newal timing was the problem, then the company has been growing just a slower pace.
-Not cashflow break even. Agree not cashflow even but close and a lot better than when the SP was at 30c. So again i dont feel this justifies current MC
-Has drawn down high yield debt. Yes has taken on debt but its a small amount i feel. Good reason for SP not to rise but dont feel its a good reason for why MC is below cash receipts.
-Frequent board departures. Until yesterday this asnt even mentioned so cant see how now its n excuse for the drop. 2 during covid peak which is understandable and 1 yesterday. All non executives from what i understand so maybe not needed anymore or concentrate on their real job
-Broad based concern about management team. This one i can see why some slight sell off might happen but again not enough to be below cash receipts
Should they lose a few material clients, they could be in a very problematic position. They have lost a number of clients (138 i believe) and still managed to grow. Their largest clients are only $1 million a year so i cant see how they will struggle with that loss.
None of your reason are enough reason to have MC at below CAsh receipts.
Illl still to my opinion that its been manipulated on purpose either for a buy out or to get rid of management to enable a buy out. Todays SP and tape actions indicate this.
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