Earnings downgrade (and it was a pretty big miss ) combined with a "review of business" ..can be interpreted as we aren't making as much as we thought and we're not sure why. Sure there maybe nothing to worry about...but then chuck in the dispute with its auditors..and then chuck in.. just maybe this business is starting to get a bit complex..then chuck in recent memories of Slater & Gordon..then chuck in shareprice is quite expensive. Yes a lot of extrapolation that could be totally wrong. But unlike Savvy Investor (btw thought his post was pretty good) I think there are quite a few red flags waving horizontally in a stiff 30 knotter. Not predicting anything dire will necessarily happen..but I prefer to be on the sidelines (even if wrong) and evidently a few other do as well.
WEB Price at posting:
$9.58 Sentiment: Sell Disclosure: Not Held
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