Cettire SP will be held under $2 until the founder acts to cut costs on marketing and promotions which would improve the earnings…
It’s what Zip & Appen did recently and their SP jumped x5 plus from the lows….
With founder doesn’t care about EBITDA and he is focusing more on reaching $1B annual revenue … can’t see shorts have any motivation to cover anytime soon…. I may be wrong .. let’s see…
Zip has reached nearly $3.5B market cap now… similar revenue & EBITDA ….
Upside of Cettire SP will be dependent on cost control and structuring marketing expenses ….
And for short covering , the founder himself is 4% short …isn’t he… Sold 7.2% at high ($4.6) and bought only 3% (<$1.5)…
interesting times !
CTT Price at posting:
$1.33 Sentiment: None Disclosure: Not Held
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