I'm annoyed that I trusted Cynthia Scott. I never expected her to fail. Some would argue a $5m miss in a quarter is insignificant, but it shows holes in ZIP's commercial model and it was poorly explained as to why the miss occurred (nothing once off was called out).
Brokers are all either maintaining or downgrading valuations (usually a downgrade of 10%). Yes, the 25% fall was steep and probably an overreaction, however not for major institutional investors who no longer see light at the end of this tunnel.
ZIP needs a big commercial win or they're destined for the $1s as the next step. I'm nursing a big loss on this share, however I recognise my error in judgement and I'm looking to learn for future trades.
ZIP Price at posting:
$2.44 Sentiment: Buy Disclosure: Held
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