I didn't buy into the company on listing, I brought in after, thinking the company will go back to the listing price in the near term is unrealistic.
The company is undervalued at this price, consider the BAA side of the company alone. VET fee help structure was changed with a lot of companies that had a terrible track record being de-registered as an RTO, the BAA side of the company has exception growth possibilities and the enrollments while down on projections are steadily increasing.
The building arm of Simonds has good growth aswell regardless of the slow to start projects.
You state the company is highly leveraged, but don't consider the fact this is industry wide for construction.
A lot of bad sentiment at the moment is putting the SP under pressure which is not warranted and while I don't personally agree with the share buy back as it was some what illogical companies make poor decisions all the time atleast the share buy back wasn't an overly negative idea.
have a look at history and the effects of sentiment on SP, then look where companies that had poor market sentiment yet exceptional growth potential are today American Express is one that comes to mind.
The massive decrease without a market update is unjustified speculation. A lot of companies as of late have been the victims of speculation yet bounced back on a market update
SIO Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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