You are not wrong. It's rare I get annoyed at a position but LBL certainly has just put itself in the sin bin for me. Its the only laggard in the portfolio and just when you think momentum is building and shares are rising it sinks right back down, sometimes lower.
Anyones guess what happens next and where they are focusing after the US expansion pause. Any update would be good, we have to wait for the full year financials to know which direction we are heading. Could go south even more.
Whilst I've held LT I'm considering chopping some holdings back even at a loss as there are plenty of other ideas that are performing better. LBL has compounded losses and the opportunity cost is not worth the "Turnaround" story.
They've been in a turnaround for a while.
The issue in this case may be an element of pride, Wayne not allowing Greg to contribute to the company even though its probably best for all stakeholders.
Time will tell...but another dissapointing update and we will be in the 20 cents and I dont think ill hang around for it.
LBL Price at posting:
38.0¢ Sentiment: None Disclosure: Held
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