You are right about the profit warnings and Morgans influence over the price. The dividend withdrawal was also of no help. However the general misunderstanding of the balance sheet and borrowings did seem to influence some investors - some posters on HC were making comments about "heavy borrowings". There was also the purchase of the Windsor caravan stock from Fleetwood at a time when caravan and RV sales were plummeting. This caused them to start discounting prices heavily on a couple of occasions thereby reducing margin and profitability. I agree that there is pent up potential here but the trigger will be the opening of borders and international travel and that seems to be drifting out to longer time frames. The Trouchet boys are passionate founders and shareholders and management and they will manage through this downturn so it is a game of patience with this one.
ATL Price at posting:
28.5¢ Sentiment: None Disclosure: Held
