They are banking on no major buyers sweeping this up.
The next announcement can only be positive.
- simple terms is the business can't be making 0% EBITDA for longer than 2 months. If so, you are saying their inventory is unsaleable and needs massive write-downs to clear.
I have a feeling they wanted to make this half sound as bad as possible so the founders could buy in cheap again. Problem here is $5 is 0.5 x sales or 16 x PAT. It is too cheap for a company that made a significant acquisition and will be seeing synergies in the near term.
Shorters need to plan their exit very soon or face losses. Luckily for them they upped the ante around $14 so they have plenty of time. Would like to see if they upped their assault yesterday. I doubt it.
They are banking on no major buyers sweeping this up.The next...
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Last
$4.51 |
Change
0.060(1.35%) |
Mkt cap ! $453.7M | |||
| Open | High | Low | Value | Volume |
| $4.46 | $4.58 | $4.41 | $2.881M | 639.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5920 | $4.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.52 | 165 | 1 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| KGN (ASX) Chart |