I sold out a couple weeks ago myself after holding for 18...

I sold out a couple weeks ago myself after holding for 18 months.

Just not enough upside potential in the near term, and my money is better off elsewhere.

My biggest issue is just the amount of SOC's they have running, jacking up the expenses unnecessary. I remeber in a interview around 8 months ago JC stated they had 3 SOC's running and with their most recent acquisition they added a forth.

I understand its not easy to to consolidate into one SOC with the number of sifferent clients TNT has, with each having different needs. Still they have had over a year to consolidate and they havent...Their head of synergies is dealing with accounting and building consolidation saving a couple million a year which is great but not really enough to increase EBITDA to a substantial level.

With the recent cap raise as well, and no immediate acquisition announced killed my confidence. Seems like they did it just to pay forntheir past acquisitions. They have been talking about 5 eyes expansion for over 12 months which hasnt occured. I suspect this is due to a raising in values of the potenial M&A targets while TNT has seen a decrease in its SP over that 12 month period, settting those target acquisitions into rqnges TNT couldnt afford.

While i belive that TNT will do well over the long term, with the recent rise in inflation i belive their will be a big churn of cash out of tech based stocks into commodities. Thats where my money is now.