I seriously believe it's because their outlook is so fuzzy and as
@Gaz96 said in an earlier post, markets are supposed to be forward looking.
Management did not put forward a positive strategy to deal with COVID. It's all wishful thinking based on when UK gets a grip on the virus. Their initial predicted 2H results was also based on wishful thinking. They never said why the 2H results were going to be better than the 1H as if COVID was going to magically disappear in the 2H. They just kept repeating the "sales in the pipeline" mantra over and over as if that was the silver bullet. As it turns out the 2H results are only going to be marginally better than the 1H. Maybe. They (sneakily) snuck in a FY earnings/profit downgrade into their HY results and there are no guarantees that they will deliver on that. And what if those alleged "sales in the pipeline" don't materialise? They're just meaningless words at the moment. Plus shorts have this thing by the balls. It's a disaster to be honest. One thing is for sure, you won't know what's going on with this company until the FY results are released because management are content not to tell shareholders anything until then.
I understand that there's only so much that management can do but to sit on your hands and not take any assertive steps to tackle the UK issues is not going to get the job done. COVID could potentially be an issue in the UK for years and what is BVS going to do in the meantime? Wishing for COVID to go away is not a strategy. Why aren't they exploring new markets in the meantime that aren't COVID affected? Management have let this company down. The fact that not one of them has bought shares in this company at these low prices tells you all you need to know. It hardly inspires confidence.
If they miss their FY guidance the SP will be under $2.00. In the meantime shorters are just going to keep hammering the thing down.
And yes I'm angry as I type this. I really believe management have let this good company down. My opinion only. GLTAH.
(20min delay)