I got stuck in this stock as a ST trade and unfortunately got caught in the first sell down. I held and even averaged down. However, in the latest sell down announcement during November, the CEO stated:
'We remain cautious on the outlook for the Christmas trading period' .. while the inventory review has not concluded, the Board has determined that a non-cash impairment of $60 million (pre-tax) is required. Further impairment may be required, depending on Christmas trading. Given the non-cash write-down and the uncertain trading outlook, the Company is unable to re-affirm the profit guidance previously provided'
This was a clear sell signal. I sold shortly after and took the loss as it's what wasn't said, rather than what was said i.e. no profit guidance whatsoever.
If you bought in or held your shares after this announcement, how can I put it?
