Can you explain to me in one sentence what is GOO? I can't do it even after reading the presentation. My initial reaction to the first slide was 'it's a clothing company'. LOL
Jokes aside, the business is losing money on whatever it is they do. They continue to lose money this year, as also last year, and the one before. They have little cash left, which means they will be raising money... which means the SP will be under pressure.
Looks like that financial accountability is not their strong suit, as the above presentation just has one slide on the numbers that matter most.
Looking at the chart, it's all been downhill since the IPO at 20c (MC 12.3mil). To go above the Ichimoku cloud (chart indicator), one needs the SP to go to 7.4c soon. It does not look like it. In other words - pain ahead.
The alternative is to search for companies on the asx that make new 52 week highs, and trade/invest in those. That's what I am resolved to do for the rest of 2019 and beyond. Plus have to pass on my skills to my kids, so that they don't starve later.
GOO Price at posting:
4.3¢ Sentiment: Sell Disclosure: Not Held
