Gap at $22.88 closed today. Same position as you TH, SP could...

Gap at $22.88 closed today. Same position as you TH, SP could fall another 50% and still be a mile in front. In primarily for the dividends.
The SP is at the low end of discounted cash flow valuation fair value. Covered by 7 analysts with a high target of $32.25, average target of $30.06 and low target SP of $27.50. Analysts do not get it right all that often but we are currently 20% below the low target.
Morgans downgrade was to meet expectations ie, $150mill EBITDA. Reasons were nothing to do with issues within the company but they stated a slowdown due to the election and Geopolitical factors.
The issues raised by the VGI report were either wrong or based on their misunderstanding. Many were just minor and typical of a fast growing company.. There were no concrete issues raised that would show the business is on the road to failure.
The report did a medium/long term favour for holders in that it forced a review of the business. In the end this was probably the reason behind the CFO change.
Some time ago I posted a link to an article on shorting on the Bennelong website. They basically said it was common for shorters to get down and get dirty and personal to discredit the company they are shorting. Its designed to cause doubt in the minds of holders in an effort to get sell orders going. We witness this with the many AFR articles by Joe raising the sloppy personal housekeeping of some personnel and associates and draw the long bow to associate this with the business performance. Joe has been extremely critical. Unfortunately this criticism has spooked a few holders. Joe becomes 'undone' when he starts throwing figures around or intimates CTD is running out of cash. I pointed out where he was incorrect in his last article on my earlier post. Joe has not provided any evidence or strong indication that CTD as a business is struggling. Its all personal.
Stiil it will likely provide another buying/top up opportunity in due course for longs.
Since the initial reports there has been no revelations of substantiated bad CTD news from the shorters or the AFR despite their intensive 'digging' and probing. If there was bad news it would be shouted out loud from every roof top in Australia ASAP. There has not even been rumors.
Its easy to develop a mindset as a long or short and read the reports to suit your case.
Even with no further acquisitions the aspirational TTV of $10 bill mentioned by Joe in the AFR provides an exceptional EBITDA. At current organic growth rates the TTV without any acquisitions should be around $9.9 bill by end FY 2022.CTD will be looking at moving the TTV global conversion rate target up to around 3% from the current 2.53%. Australia and Europe were materially above this 3%. Asia is the big laggard.
In due course the whole market will be smashed. This bull has been around for a while now.
Its all wait and see. Meeting target is fine. Means the divs keep rolling in. I expect an acquisition next FY with great TTV and low conversion rate which will fuel even more EBITDA growth.
I guess the point is that there is nothing to suggest there is any problems with the business, its just the shorters sowing the seeds of doubt.