There is so much negativity around BVS at the moment that there is nothing to stop the SP falling further. It might fall at a slower rate than before the release of the HY results but there is no excitement or optimism about it and when that's the case SP's normally don't go up. The shorters are excited because I'm sure they believe that BVS will disappoint again with their FY report as well. The HY results weren't great and they have (quietly) downgraded their FY guidance. They still haven't really mapped out their COVID strategy moving forward other than repeat over and over that the vague assertion that the "sales pipeline is strong". It comes across more like wishful thinking on their part just like they thought that earnings would pick up in the second half of the FY. That clearly wasn't the case.
The market will need to see some positive results to push the SP in the right direction. Hopefully they will release some good news well before the FY results but I expect more pain until then. If they don't release any good news before the FY results are in then you can safely assume that their FY guidance will be as stated or worse.
BVS Price at posting:
$2.71 Sentiment: Hold Disclosure: Held
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