I’m going glass half full on this, as: 1) if they were going to...

I’m going glass half full on this, as:

1) if they were going to have to raise would have been the case even if LCD decision wasn’t overturned so could have been a discount to 12c back only 6 weeks ago.
2) I said before I didn’t expect stunning results outside US as it appears to be a slow burn so locking it in now off the base of 28 avoids releasing results which might not have been as immediately packed with growth as people expect (although it’s in the post)
3) if they don’t need to raise to meet a standard growth profile in US maybe offshore sales now will get some more grunt and /or they need to add further to manufacturing capacity.

it’s never smart to get down to last couple of mil as them raise timing is out of your hands.

my key hope with this CR is not the exact discount but that the takers are holders who now want to support long term / enter a position they may build further on so it tightens and enhances register quality vs flippers we just have to wade though the profit taking volume until they are gone.