I'm a novice here. I know that the market is supposed to price in good news, future earnings etc, I'm just trying to understand the following:
- SP got to $8.00 before the pandemic (at that point 1HFY21 sales were at $323m, GP $50m and EBITDA at $18m);
- SP got to close to $25 during the pandemic;
- SP got to $5.77 this morning (1HFY22 sales at $698m, GP $112m and EBITDA at $22m).
I understand Mighty Ape is making 1HFY22 EBITDA look better, the business inventory issues (slowly resolving) and slowing growth, but are we fundamentally saying that the business is in a worse position now with a bleaker outlook than what it was in Jan 2020?
Ann: January 2022 Business Update, page-20
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