Last reporting, management talked about headwinds and before that, challenges. So far, results do not show improvement. While revenue increased by 7%, costs blew up by 9%. The trading outlook does not show promise and lower occupancy is blamed on bushfires and the corona virus. Excuses excuses. You need positive action from management and, if they have not thought about their plans now, I cannot see how the SP will not continue to go down until they update shareholders in May. Personally, I will not dive in at this time. SP is low now but is it the bottom? Unless results show profitability, It might just be a good idea to stay away. But I can be wrong, just my personal viewpoint.
GEM Price at posting:
$1.73 Sentiment: None Disclosure: Not Held
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