Hey Von,
See current sentiment below. I still hold. Not nearly as much as I did at the beginning of the year. But I'm mature enough to understand that one quarter may not be an accurate data set for judging this company as a whole. I think it would be inappropriate of me to call it a sell at this price level, as it could be a very attractive entry point if you believe in the story.
Plus I'd probably get a few dirty phone calls from mates that hold.
In saying that they need to put a stop to the current Q on Q trend otherwise shareholders will end up paying the price. They have two quarters by my figures to use this "material growth" just to be able to return to what was considered the bottom of their trading range. So I don't see it as growth at all.
Talk of introducing their own direct media buying desk for greater control of customer acquisition shows that they are active in following underlying market trends and active in fixing the problems. But this is also very worrisome and a major if there are problems with marketing and if they are no longer seeing sufficient return on marketing spend.
They say it's stabilising which is debatable but I suspect they simply don't know what it's going to do.
I'm just glad that I haven't put anything in that I'm not prepared to lose.
Will increase holding if they can stop the bleeding.
If you just meant why havnt I changed my sentiment to sell. Well I'm only allowed one account here. Maybe Hotcopper needs to have two sets of disclosure. One for trading parcel, one for holding parcel.
Also I'm not about to change to sell and bag the company out for the next three months. I'll just move on and vote accordingly at the AGM.
In regards to comments about AGM resolutions. If holders truly do feel aggrieved by the performance and the way it has or hasn't been delivered to the market, I would suggest also voting against the entire remuneration package. It's advisory only but will definitely get their attention.
As a CEO you can't keep saying that we expect growth and are confident it's stable only to have it actually be the opposite. It's self defeating.
Good luck holders. As liabilities are reduced shareholder value might come into play.
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