The stocked OPENED 30% down and never recovered. Tells you all about the price action you need to know. This was people exiting / selling on the basis of a valuation re-rate. Great product/business in my view but still trading on a very expensive multiple given lack of growth.
The blade-and-razor model means that their missed growth now (in new units) will whack them on the consumables growth down the track. Double-whammy.
I think it’ll find value eventually but I strongly doubt it will be on day one of the sell off.
Ann: H1 FY24 trading update and expectations for FY24, page-28
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Last
$3.15 |
Change
-0.050(1.56%) |
Mkt cap ! $954.4M | |||
| Open | High | Low | Value | Volume |
| $3.16 | $3.17 | $3.13 | $2.429M | 771.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $3.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.15 | 10447 | 2 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| NAN (ASX) Chart |