"It's not for us to comment on the market," Jasper said by email. "The company has doubled revenues over the last two years and we are confident of increasing annual revenues by at least 20 per cent over the medium to long term, underpinned by the huge opportunity to further penetrate the world's largest construction markets."
Nice quote from the article.
Ben McGarry from Totus looks to be one of a group now termed 'activist' shorters- shorters who like to go to the media. Interesting that he is saying that for him, the borrow has run dry. That's good news.
Btw, according to their own reports, Totus did very poorly from their positions in 2016 and their Alpha Fund was still down 2% in January 2017 and a further .46% in February this year, with a rolling one year result of minus 6.4%.
Though, to be fair, they did do very well in their initial years- 2012-15 with annual returns as high as 53% pa. They could improve their performance this year I think by going long on Aconex!
------------------------------------------------------------------------------------------------------------- This post is based on my own research and is not investment advice. When making investment decisions, always DYOR.
ACX Price at posting:
$3.95 Sentiment: Buy Disclosure: Held
