that just is in parts very macro focused. Also says nothing about the state of competition.
A few points:
Take a look at Ingram Micro Australia results (in their Korean parents accounts). DDR run a much better shop. Similar for Synnex.
DDR never lost HP. In fact, they're one of two disties for HP now.
If Fiona and David cash their holdings, itd mean someone buying the business. Do you think they'd cash in cheaply?
DDR has stretched valuations, yet Vlad and Mary were actively buying on market between $4.75 and $5. The only scenario that makes sense to me is they're now hitting additional economies of scale that are leading to increased margins (see Q1 result). I can't see them buying if the valuation is stretched
The warehouse will provide some much needed space, and an ability to operate exactly how they wish. They're so tight on space they're renting out space to hold inventory. I imagine this will provide for greater operational efficiency, but I'm not banking on it
As much as it pained me, I added ever so slightly at $4.80, in addition to the DRP.
DDR Price at posting:
$5.80 Sentiment: Hold Disclosure: Held
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