re: i've just shorted again at 80c!
There is a long term decline in the stock from when everyone thought it was clever. It merely spent about $700m inventing the thong. There is nothing clever about the product. The dreams they have flog like silly CAT include promises of deals with Visa blah blah blah.
Proton World was a myth, the London contract was a myth, the Paris contract was a myth, the Rome contract is a dinosaur and only an area of Rome, the smartcard Octopus is not used in HK by travellers other than for tickets. Nowadays the technology they wasted time on is outdated. They got beaten for the Canberra contract with 35 applicants for the job including Cabcharge. The East Coast of Australia myth was destroyed when they were beaten by their far cheaper and superior dogfight adversary Cubic which tenders low and has a history of litigation against anyone that beats it. Fogarty promised the world and did not deliver and then for some minor reason eg lawn motor cut his toe or something bolted. Where now? Little daytraders buying 7k and 8k shares thinking they are picking the bottom. New management with no history and a lot of baggage. I tell you if Fogarty couldn't flog their high priced junk this bloke won't do it. How inspiring when new management talks about 'cost cutting'. What about winning a contract. Check out Cubic on the Google and you will see what they are up against. My prediction without novus actus interveniens? Hover in the 75/80 range maybe even struggle up a little but when 75 is broken then 50c is the next ledge down the cliff.
ERG Price at posting:
0.0¢ Sentiment: LT Sell Disclosure: Held
