well.. i have been watching this stock for months now. along with IVE GROUP
(IVE GROUP is the other major player for printing in aus)
the company OVT has failed to *appoint any independent directors. *owners have failed to make any significant private investment purchasing shares *major LONGTERM shareholders have up and sold to get out *No information has been passed on to the market/shareholders. (no updates or announcements... nothing) *no government funding for the manufacturing sector has lead to increased lay-offs and drops in work (as per the obscure video that was posted a couple months back) *no announcement regarding annuals .etc *Bauer media shut-downs etc nz etc. *huge debt ratio
on the other hand IVE GROUP is independently directed and has business's in other sectors. other then just printing. and its share price has recovered to nearly %50 of precovid levels.. it has juat announced its annuals to be shared with the market. along with a strategic update... what could a strategic update be???? and why now in the middle of the pandemic??
one might think . now was the time to get into IGL and get out of OVT asap.
seeing as the Hannan family hasn't been very forthcoming with any information, when you consider to $20mil investment last year... you would think its all hands on deck to get the thing up and profitable. I'm starting to wonder if they have been approached by IVE GROUP regarding a buyout.
either way I'm struggling to understand what is going on at OVT.
but it can't be good.
OVT Price at posting:
1.0¢ Sentiment: Sell Disclosure: Held
