For mine it just shows how idiot advisors and brokers create...

For mine it just shows how idiot advisors and brokers create opportunities for investors, there was never any indication from ADA of growth like BP and others were implying.

What is missing is the reported increased profit in the 1HFY18 that the company said they expected, with a lower 2nd half. This latest update has reversed that advice, now saying 2HFY18 will be the stronger half. There is no explanation from ADA for this change in forecast and the concern for me is that 2HFY18 ends up being flat as well.

My valuation range for ADA is now in the range of $2-$2.50 and I will probably add some more if they drop below $2. I suspect the recovery in the share price will be slow now, investors will be looking for more consistency and accuracy in reporting and a much more steady path of earnings growth.

It still has the potential to take off with good news on some of the big pending contracts, but I think the narrative has been over sold and now the speculative pricing has been removed by the market.

There are still some things to like about the business, debt free and good free cash flow so I will hang tight for now.