this was a $35 dollar stock in October - What changed?
Trading Update:
We now expect FY20 underlying EBITDA - including the impact of the stronger Australian
dollar – to be in the range $106M to $109M (at actual exchange rates to November and A$1
= US$0.74 for December). This is equivalent to a guidance range of $108M-$111M applying
the originally assumed exchange rate of US$0.70 for the second half. Second half underlying
EBITDA is expected to grow at 30% plus over the first half, applying first half exchange rates
to second half performance.
The long-term trends for our business remain very positive. Spending on artificial intelligence
is growing rapidly at 28% annually1 and AI adoption should accelerate in a post-pandemic
environment2. Further, online advertising, a major source of revenue for our key customers
and a reasonable indicator of their spend, is forecast to rebound strongly in 2021 according
to analyst forecastsIn other words, EBIT was 30% lower than expectations
Fast forward 6 months and shareprice is down 65%, PE is a healthy 18
The market can get irrational and at this point the risk of going higher is far greater than the risk of going lower = Logical buy unless you feel the company is going bankrupt or further downgrades. Given today's lacklustre and pointless speech has said nothing new, its an overreaction and one could argue a good mechanism to charge momentum with buyers inevitable going to jump in at these lower prices. Shorters in-turn will move onto to the next thing to manipulate
Also worth noting, technology day boost the share-price from 20 to 40 last time. I wonder what differentiation they have been investing in and how that far that changes product / competition sentiment
Regrettably however, the china cloud is always going to keep a lid on this in the short-term
Lets see what the trading halt says - hope its not another speech from this CEO
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Last
$1.02 |
Change
0.015(1.50%) |
Mkt cap ! $226.3M |
Open | High | Low | Value | Volume |
97.5¢ | $1.09 | 96.5¢ | $17.20M | 16.66M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2971 | $1.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.02 | 18189 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 171 | 1.015 |
4 | 50796 | 1.010 |
3 | 76771 | 1.005 |
4 | 32854 | 1.000 |
1 | 5000 | 0.995 |
Price($) | Vol. | No. |
---|---|---|
0.980 | 7200 | 1 |
0.990 | 4000 | 1 |
1.015 | 4025 | 2 |
1.020 | 53000 | 2 |
1.030 | 50000 | 1 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
APX (ASX) Chart |