There is a time to dollar average downwards and top up, yeah maybe with the price drop, but the fundamentals have deteriorated significantly, this may take longer turn around than I expected, another downgrade to their FY25 guidance in just a few months.
Dumb schmucks:
didn't even cut the dividend, that dividend is coming straight out of capital,
debt increasing, they have flogged off some assets for which they will receive the payment in 2hFY25 which will repay some of that increased debt but will reduce future earnings.
I cut 33% of the position to day, copped 25% loss on that, but will use the capital loss to offset other unrealized capital gains.
Win some, lose some
(20min delay)