this is my take on where VMT sits at the moment.....59m market...

this is my take on where VMT sits at the moment.....
59m market cap/ 42.5m cash in bank at Dec 31/ 69.5m revenue with NPAT of 7.3m for the last financial year
so far so good....
the challenges to me are as follows:
- significant year on year shrinkage of sales & profit illustrates we are not immune to cost of living pressures & we have a limited moat (i.e. we are a largely discretionary product)
- no sign of recovery on the horizon in terms of orders & sales
- new factory & associated capacity of 300k is, it looks, completely misaligned with the sales/ order book
- the 'china' connection is a worry to some & undeniably does deter some investors

I think we are at quite a key point.... you either back management & their ability to judge that the new factory is warranted (in which case this share is the biggest bargain on the ASX) & we'll rerate significantly or it'll turn out that the new factory is just a vanity project or worse & we'll be sat here in another 10 years....
for me it's a wait & see... I still like the story & believe the EV movement is still in very early stages. Frustrating hold but hold all the same