Hey David, the shares were trading as low as 4.2c earlier this week, so they are up 7% on that as of this morning. That's not an insignificant bump, particularly as the volumes aren't usually very high. They peaked from memory at about +11.3% yesterday before settling back down.
The company has a fairly long history of making mistakes, in fact I'm not sure that there are many mistakes left that they haven't made as far as aquaculture is concerned, which as Butcher mentioned is probably why the very encouraging news released this week is being treated with caution. But after the bit of a roller coaster things seem to be heading in decidedly the right direction. Name change, write down of a ghastly oversupply error, shake-up of export marketing arrangements, continuation of litigation for faulty food, completion of their new processing facility, strong investment into rebranding their product and what I consider to be a very smick brand relaunch at yesterday's aquaculture conference with their new video.
Not all of those factors immediately equate into more profits, but it definitely feels to me that management are starting to get their heads around how to make good money out of this business and how to attain steady growth without tripping over their own shoelaces.
They have set a fairly linear milestone for the next year's sales, which I also find encouraging, or at least not discouraging. If the next two full year reports are close enough to the guidances they give us, I expect that investors will flock back to this stock. Until then, it's pretty much a patience game with CSS.
DYOR, etc, but if learning from one's mistakes are a catalyst for attaining perfection, then these guys should be just about ready to start kicking goals at will
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