Precisely, Sarge. I've been watching this from the sidelnes for a few weeks now, sold my last block at 9.5. For a few days after that it 'recovered' from there and I thought I'd got it wrong. At the same time I said the bottom was 5 cents, actually .047-.049. To be honest I'm stunned it looks like going there, but in this market anything's possible. However, as much as some might like to think, Customers is not a company in its last throes.
If ever there was a classic value/contrarian/recovery proposition on the ASX, this is it. What is there in the accounts to suggest the largest ATM network deployer in Australia will collapse under the weight of its own success? Nothing. Given the current SP performance, I know 'success' is an optimistic way to describe CUS, nonetheless, it's simply a case of a company that lost its way under management blinded by the light of apparent opportunity. They aren't the first outfit to come unstuck in China and they won't be the last. Yet they still have significant domestic cashflows and the return to core operations will, in time, see them prosper once again. Yes, they are down, but they're far from out.
CUS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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