As a new holder and long time watcher I agree with these thoughts FWIW.
BUT, this uncertainty and selling pressure is a function of a company that clearly overshot its valuation and now IMO it’s undershooting. During times of high uncertainty back your judgement, your process and research as that is when you can make very good returns.
I also think the company has not helped itself by creating some uncertainty around 2019 earnings citing extreme weather conditions as a potential reason why guidance could be missed. While I can’t prove it, I think there is a major discount being applied to the SP on that factor which is also a function of a company moving to consistent profitability and not yet having a track record of delivery - with insto’s and funds, who are the buyers that will ultimately drive the SP higher.
The chart still looks terrible and I don’t know where the bottom is but I’m in accumulation mode. GLTAH
PET Price at posting:
75.0¢ Sentiment: Buy Disclosure: Held
(20min delay)