Very disappointing AGM announcement $2m loss for 1st Half, have doubts about TSM....From the watered profit $5.6m to Loss $2m...will cash burn more cash and will probably release another profit downgrade in future....The retail space is very dire....it lost its warranty, Dick Smith is closing stores, JB Hi discounting heavily, it does not paint a positive picture for TSM.... According to my calculation this is a 36% downgrade, stock could tank to levels .17 or lower..... I don't have faith in this mob anymore, alarm bells rand when couldn't raise all SPP funds, lost warranty and expanding in a hemiraging market....Oh yeah, putting on more directors and wasting shareholders capital.... I still hold some TSM shares, but very dissapointed
TSM Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
