The market most likely reacted to a few news which sparked the sell off
- Polynovo will not pay final dividend - that was probably the key one
- Negative EBIDTA (last year it was positive) - no company can sustain regular financial losses
- Bigger loss than last year on Net Profit Before and After Tax. There is a significant deterioration
The news on 59% growth in sales was not sufficient to offset those things. Investors may be misunderstanding the fact why costs went up - this is because of headcount and overhead. Headcount is quite obvious - you need to invest in workforce if the company is growing. Overheard - I am not entirely sure on this one. What caused that increase?
Today the price bounced back though. Let's see where it lands by the end of the day.
Ann: FY23 Results Presentation, page-38
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$2.37 |
Change
0.080(3.49%) |
Mkt cap ! $1.635B | |||
| Open | High | Low | Value | Volume |
| $2.35 | $2.44 | $2.31 | $4.848M | 2.032M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 31280 | $2.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.38 | 6793 | 3 |
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