A fair punish today. I reflected over the weekend and yes pain is justified - the spin language of "an especially strong sales pipeline" has been trotted out quarter after quarter, and the numbers aren't reflecting anything "especially strong".
Ditto the duality of covid being both a tailwind when looking to the future and a headwind whenever talking about existing results.
That all said, its not over yet. At 32c we are sitting on an EV of ~$25m while minting ~$8m rev that's sticky. Within that rev as well, there has been a shift to more profitable revenue which means the bottom line has improved.
Add then the strategic acquisition that has RCL in 500 schools which should be upsold, plus the cash that will need to be deployed for inorganic growth.
It's a pretty straightforward hold at these levels, even though this fall has been soul crushing.
RCL Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
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