The Chairman at ALK has been selling down. He also is distracted by other directorships and companies. I would consider those things bearish. In Dave's defence - he retired his other postings to sort this out.... just should have done that 12 months earlier and not tried the lithium moonshot. Now ALK is borrowing for CAPEX. Another 100k hedged. Chairman selling before more dilution arrives in the future. Have a look at ASM chart >$12 November 2021 now $1.59 along with dilution. ALK's investments have been marked down HARD this HY. Have a look at the numbers closely - on one hand they are saying net profit is $24m down 49% because of GMD gains prev FY which made last year look better, but further down under p7 of the auditor's report the 'restated' net profit is just $14.6m which against the Dec 21 result of $57m is actually a decline in net profit of 74.4% against an increasing (+22%) revenue. Good luck with it.
CAI Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
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