Yep, almost at 34 c, will test 30c soon enough. Thought it might...

Yep, almost at 34 c, will test 30c soon enough. Thought it might take a little push from a weak market but no, SFX has managed to push straight down through 44c, 40c and into the mid 30's despite a 'hopefully' strong market. Shares bounced on the UBS organised Australian article 20th May (red arrow) but sold off during the day and continued ever since in a pretty straight line.




I really hope 30c shows a bit more backbone. Don't reckon mid 30's will last long, market is due a pull back on trade deal concerns and SFX is weak as piss atm.



Price action screams that the sale process is not going well. Of course, we will only find out after insiders close family and friends have left in the life rafts. Stunning value destruction, 32c represents a 75% fall from intra day highs back in Oct 18, or circa $250M... ouch. Where is the bottom? Depends on how many fibs management have been telling and how the global markets play out, which of course determines the sale process outcome.

I'm hurting to be honest. Too bigger punt on a too clever for my own good strategic opinion. Too little thought about the timing, too little thought about the fundamentals, caught up in too much debate about the valuation metrics when my original sentiment was correct (in hind sight to be fair). Hopefully my continued and annoying posts which banged the drum this was a binary and risky play saved many here from averaging down too early on misplaced confidence. Not that the fat lady has sung, I hope to god it's now a bargain, but the market is telling us loud and clear that an SFX structured sale at 65c was never the "once in a 5 to 10 year"opportunity", lay down misere some here claimed. If this was free money, $1 in a couple of months selling for 35c now, more buyers would be over it. I wonder if the SFX crew that showed up March 6th are still in or took the opportunity to sell out while the going was good?

Good luck (I say this often but really mean it today lol)