You’ve all been tricked and distracted if you are focusing on the tax issue. It’s the oldest trick in the book, create fear and panic before a big announcement.
The real factor and the reason you are all being distracted is because the China launch is imminent. It has taken 4 years for Cettire to gain approval to launch in China. The Cettire website is updated in China now and can select a China shipping address, maybe the launch has already occurred. My gut feel is that the instos created all this panic and fear to accumulate. Instos now hold 40% of SOI.
That Bell Potter research report is good for toilet paper, that’s about it. I recall all their other reports were like $1.9, then $2.4, then $2.7, then $3 etc. Cettire blew each report out of the water and exceeded all their price targets, that’s why they kept raising their research report price target. It’s a deliberate attempt to cap it whilst instos accumulate.
The reason Cettrie is so profitable, is not because of dodging tax. It is because they operate an almost billion dollar a year in revenue company using only 70 staff and hold $0 stock, low operating costs are the reason. All other explantations and rumours are nonsense. Our competitors employed thousands of staff and held hundreds of millions in stock. Chalk and cheese.
Expect the following 4 announcements that will push us to new highs.
1. China launch
2. Another response to the tax allegations
3. An insto like Regal or State Street buying on market during this carnage.
4. Trading update
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