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1ronnie

21,411 Posts.

2004

03/03/21

12:30

Post #: 51481238
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Originally posted by 1ronnie ↑

Sometimes the markets can get too negative and this is when we need that eagle eye to identify opportunities.

I believe the market has slammed Appen (APX) far too hard

APX
- is now 63% below its all time high of $43+ on 26 Aug 20
- has now retraced 37% lower since 16 Feb 21 , the start of its recent downturn
- significantly is 6.3% lower than its March lows

So, I get it that market participants are concerned about tech downdraft due to higher bond yields, which may come to pass. However with its share price being 6.3% lower than the COVID March lows while guidance is suggesting an 18-28% EBITDA growth going forwards, the risk-reward at the current price is actually rather attractive.

APX is a fundamental tech in the right space- AI , a $2B company that is proven , compare that against BRN at $800+ market cap, you can clearly see the valuation of APX is cheap.

I am onboard APX this morning, a clear indication that I would be more selective and be scouting for better value in the upper end of town market.

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Oh, on APX, RSI is also very low at 20s.
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0 Great analysis

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