* Nearmap Ltd(ASX: NEA) – last traded at $0.345, down 36% for the year Nearmap shares entered a swan-dive after Managing Director Simon Crowther left the company last week, compounding earlier investor concerns about lacklustre US growth. Mr Crowther’s replacement, Rob Newman, has ‘deep and specific expertise’ relating to Nearmap, as well as a proven track record of taking Australian tech companies into the US market. This looks to be a specific answer to worries about the company and could indicate a step up in the company’s efforts to crack the US market. In the meantime I believe that investors are overlooking Nearmap’s solid balance sheet and operating profits and I think the stock could return to form over the next 12 months or so.
GLTAH!
NEA Price at posting:
34.2¢ Sentiment: Buy Disclosure: Held
