Finally some positive and welcome news for a company with a history of the negative and the unwelcome.
Trading below $1 surely factored in at least a 50% chance of Sheehy being successful ( I wasn’t all that optimistic on NXL winning I must admit) so on that basis alone a return to the boards at around $1.20 looks about right.
Then there’s the ‘feel good’ vibe a win like this creates - does wonders for sentiment so there may be more upside to come.
Also a little more realistic (now that the ‘Sheehy shackles’ are removed) is the prospect of a buyout or a takeover.
Nuix is fundamentally well placed in a niche sector pointed towards the future - the execution of the float was just a complete F up and there were lots of other F ups on top of that…..but i think we’ve seen the worst of all that now - and a bottom for the share price.
Well done to those that bought up the stock at around 60c in Oct/Nov last year - you might just clean up big time.
As for the nutty professor - well he’s just in shock - sitting there speechless …covered in popcorn.
NXL Price at posting:
$1.21 Sentiment: None Disclosure: Held
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