Don’t think it to do with small caps, more that they have lost credibility. Last year in August 2023 they announced a couple of poor updates with an earnings downgrade and a write down of inventory.
They have been a terrible performer since IPO. Any holder who’s been here since then has seen a dismal return compared to the asx 200. 2016 to now, asx 200 is up 40% and Ahx down more than 60%.
The only positive is the last half yearly is improving and they seem like they’re heading in the right direction by consolidating performance and stopping their acquisition spree.
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