Well I would have been tempted to long the open today if there weren't those two Writedowns from Building products and Distribution, as it sounds like there is more going bad than just the two projects.
At the last half Tradelink was noted as "Tradelink showing momentum on key initiatives, though hit hard by WA". So the initiatives aren't working???
The Ann implies to me that the board asked for the resignation of the CEO, which is a red flag.
However there is value there - but big projects going even more badly wrong can be smashingly bad news.
I shorted later this morning, but might be longing it soon, especially if it gets sold off for a few days.
Ann: FY17 TRADING UPDATE AND DEPARTURE OF CEO MARK ADAMSON, page-2
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Last
$2.78 |
Change
-0.080(2.80%) |
Mkt cap ! $2.075B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.89 | $2.76 | $2.336M | 833.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17287 | $2.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.79 | 7837 | 3 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FBU (ASX) Chart |
