Chart Update, page-20310

The the recent ann had me considering "did they try bake in all the bad news into this update?"

Management selling heavily in 2020 is now an obvious red flag of the culture. They knew the medium term was bad and got out early. Management potential heads in the sand as many NZers are about the -ve and long term impacts of COVID.

As tempting as it is to DCA down by buying in here at $5, until I see insiders buying back into the business i'd say this is going to be a graveyard stock for sometime. I'll check in on it from time to time and mourn the loss but ultimately i'm not willing to let go.

Unclear when things will come right if they ever will. My main expectation (hold rationale) is that the Brand itself is still strong and will be able to fix whatever it is they've royally screwed up wrt China.

That all said, sentiment is incredibly bleak based on emotions AND facts so definitely. The emotional side leaves room for a good opportunity but you'd have to be brave buying into this and with some expecting further downgrades (probably fair given hopeless update) it'll likely be a fruitless decision at this stage.

If it turns around, you'll most likely have enough time to get back in. Especially if you'd sold a month ago (-37%) or even last week (-12.8%).
Feels like a painful lesson of holding onto your losers. Already learnt the lesson of selling my winners with APT last year.

Will hold and see how long it takes for us to get back into the fight.