I think it has more to do with the sell off in tech stocks due to the Nasdaq continuing a downward trend because of the likelihood of a global recession.
Until there is a flattening of interest rate hikes, the trend is likely to continue. Not likely to be an appetite for buying until this trend changes.
Their revenue is increasing as is their EBITA.
The loss is due to amortisation and depreciation which is essentially a write off for tax purposes.
This stock is great value for a long term hold if you are willing to wait.
ELO Price at posting:
$2.05 Sentiment: Hold Disclosure: Held
