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clock Created with Sketch. 10/05/21
20:30
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Originally posted by bbbear1:
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There may be a dead cat bounce later this week. But overall this announcement today was a 'CEO reset' in my view by the recently appointed CEO. The CEO is cleaning the whiteboard and the game-plan from this year for FY22 so that it may be constructed with as little lay-over baggage from 2021. A large amount of the recent EBITDA hit was non-cash and the majority were one-offs. Investors can read into this and decide how this effects their forward PE's and personal appetite moving into the stock now. and the further actions being taken to rebalance the channels by actively reducing sales in May/June; "Clean slate evidence number 1"proven . I am happy with the clean slate approach and imminent momentum shift within marketing and channel review. I will continue to accumulate in this downtrend.
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CEO should always bring out the bad news in their first report - in the first report it's the previous CEO's problem/fault, after that free hit they own the issues. Also helps to meet your financial targets for bonuses as can bounce from a marked down profit line.
(20min delay)