I couldn't disagree more, the outlook and business case for WYN from this point is pretty solid, provided they deliver the 50% reduction in cash burn and meet revenue guidance. That's very probably what a TO is performing due diligence on as we type, progress against the August strategic plan.
The class action suit will never be more than a distraction in my opinion, something to be ignored as noise, just a bunch of bitter punters who lost some money and are now having a go because they can and some lawyer has offered service for free. The legal case seems firmly with Wynyard to me.
Why would a tech company or a security sector company not want to buy Wynyard when the share price is in the basement and the business potential remains better than ever.
The benefit to a TO is the large number of fickle sentiment motivated small traders and retail traders on the NZX that have offered them up a company with all the prospects in the world at an absurdly low price. I'm confident the share price would not have dropped anywhere near this low had WYN been listed on the ASX.
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Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
