And there you have it: as succinct asnapshot of investor interest in EG as you'll get.
On Tuesday, the company appoints a new CEO andreports a healthy sales figure and noone gives a rats.
Either of these pieces of news might well have excited some excitement in other companies. But not with EGL. Not a murmur except for the desperate writer.
The sales figure quoted shows considerable demand for EGL services, and the industry is without doubt expanding. A pissant profit was reported last FY but a profit anyway and the business is a going concern.
Given the illiquidity of the stock, the length of time of any turnaround, the absence of any known shareholder communication strategy and the general hassle and cost running a listed entity, a good case can be made for taking EGL private.
Buy it for a song, put longsuffering shareholders out of our misery, get the business moving, relist in 5 years as a Great Shining Green Thing and you're laughing.
That said, having a new captain on the bridge will help no end.
What is a punter to do? Take a haircut and move on, or bottom drawer it?
Immediate SP outlook: moribund.
EGL Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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