CTV 0.00% 0.8¢ colortv limited

Being played

  1. 23,919 Posts.
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    I've recommended EN1 contact ASX surveillance

    They are being played with IMO

    The AdCel acquisition was announced on 3 May. There was fierce bidding for AdCel and EN1 won by outbidding several other parties

    AdCel agreed to take $3M of consideration as stock at 22c escrowed for up to 12 months

    Since then, the stock has been butchered. It has effectively halved from it's highs, despite:-

    - Securing 2 of Asia's largest advertisers who add $4-8M yearly revs
    - Beating 1H guidance by 10%

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    There is no fundamental justification for this price action

    Every new low that can be priced does, like clockwork

    It is really rubbish that something that adds circa $2-5M revs a year has overshadowed all the other business progress
 
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