Fair mate, if that's your read, then it's up to you to make the decisions you do so you can sleep at night.
Before I get a band of hate thrown at me from everyone here accusing me of ramping because I am expressing an opinion contrary to theirs - I AM NOT recommending anyone buy, I am merely presenting my logic for not selling.
What are the facts:
Fact 1: GSW appointed PWC when the disclosure issues came out after the AFR article.
Fact 2: GSW released a statement vetted by PWC saying, apart from some trucking company, all Enterprise Contracts are go ahead (ie Yum! and NAW atleast, maybe AMZN ). This same statement said they have 90% retention rate for Enterprise Customers.
Fact 3: GSW released a statement vetted by PWC saying that they are at revenue stage for almost half of their Enterprise contracts.
Fact 4: The SP got spanked because of some disclosure issues that seem to have been resolved, bad press, smaller than expected 4c and "no news" from management (even though management and PWC said Facts 2 and 3)
Fact 5: There is now a CA resulting from the disclosure issue and declining SP which is in turn driving the SP down further.
Fact 6: This is a speculative Aussie tech start-up trying to disrupt. Its going to go up and down. That's what speccies do. Maybe it bottoms out and we lose everything. Maybe its the next big thing.
My opinion:
Yes, brand reputation is shot.
Yes, Bane and Joel are at the least out of their depth and at worst dodgy af.
Yes, the anns were worded shiftily to hype.
BUT PWC are on record as saying the deals are real and I back that. And I back PWC more than I back a bunch of blow-in posters who wander HC looking for aimless thrills with "no agenda".
I also dont think NAW give af about what the AFR or ASX SP is doing. If the product will resolve their SCO issues, they will implement it (my opinion).
Plenty of companies have come back from stuff like this. BAL looked doomed - climbed from 3 back to over 15 in a year after China (their key market) changed regulations to refuse to allow their product into the country.
BAL ACTUALLY LOST their key contract for the sake of comparison and saw 400% growth in a year. And that's milk.
