Was feeling unwell yesterday reading the platitudes PC was giving himself and the other directors for their 2021 results. I am not at all convinced that PC has handed over the reigns of control to the other directors. If he in fact has stepped back, it troubles me that none of the executive board have any significant holdings in WGX.
The cashburn, over promises, underperformance and stagnant share price for over 4 years would mean you would need to have unworldly patience to be a long term holder.
As you mentioned earlier they were extremely lucky that GP has been reasonably strong since listing otherwise WGX would be a basket case.
I feel this is such a low risk trade on a valuation basis that it's worth a punt.
WGX Price at posting:
$1.76 Sentiment: Buy Disclosure: Held
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