Well - the market now going to look at every transaction in great detail. Analysts may even take the under where they are not sure for a while. Sounds to me like BDO could suspect the deal was one where you buy something for $100, and the vendor gives you back $25 a year for two years, so really it was a $50 deal in the first place! If I am right and if they went advice shopping for the deal WEB can only blame themselves for this coming up.Maybe ASIC poked their noses in? No idea.
I shorted when it bounced, as I think everything will be examined under the microscope for a while now. Some deals, especially TC, and acquisitions, and the sale of Zuji may make it difficult to reconcile cashflow with the P+L. WEB is rightfully priced at a very very high multiple based on their success at execution.
So we will not know if this is a sell the rally, or buy the dip moment for a while I suspect. I'll not be shooting the messenger - not an easy job, and they probably risk losing business.
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