took a big loss on this one. I was ver wrong about the resilience of their business.
Now that the div has been cut I can see this stock dropping below 50 cents and probably lower if we have a scary moment in the markets (which I think we will in october).
The mobile market in the UK is intensely competitive. unlimited text giveaways and 'bolt ons' to pre-pay tarrifs means customers now resort to texts when the run out of credit.
It will be interesting to see if they have reached a floor in the earnings decline.
REF Price at posting:
69.0¢ Sentiment: Sell Disclosure: Not Held
