To me, today's trading didn't make sense. Pre-acquisition to today, Skyfii's Market Cap is around the same, despite adding a new business and a heap of cash. I put today's trading down to new shareholders (hoping for a quick profit) bailing out, though I have no idea really.
The acquisition makes sense to me, the price looked right, and it should allow Skyfii to cross sell its products to Crowdvision customers and vice-versa, thus increasing revenue. They could also potentially receive higher contract values for new customers given the wider suite of products on offer.
Skyfii have also given some guidance on Q3 and FY21 results in the recent presentation so there shouldn't be too many surprises there. Hopefully if we just wait it out, the share price will recover, but who knows.
SKF Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
