Vtg trading and fair value

Some classic trading going on with this stock, big support and big sells to keep this around the $1 mark, accumulation or?

I’m not sure where the fair value lies anymore, with 7-8% cut coming through and Telstra dropping prices, both revenue and % of revenue under pressure.

Let’s face it the new ventures aren’t material and may not be material for years to come. I’m quite convinced SQD athletica will be a waste of time, market is way to competitive.

For me its strength of cash flows, low debt, management, p/e and high payout ratio that’s made this attractive previously. Although I’m questioning the quality of management particularly with there lack of transparency and low quality diversification strategies.

Some managers are saying $1.5 or $2. That would indicate multiples in between 10x and 15x, @ $1 surely there may be some upside?? Or is Telstra going to cut retail rem down to $10m NPAT.