A 30% drop today - that makes today’s price cheap! Enterprise value is now about 4.5x EBITDA — relative to the big opportunities in front of the business.
A sale of shares by a CEO before a downgrade always looks bad, but investing is a lot about what will happen in the future. The past should be used as a guide, and today’s downgrade doesn’t really want to give you a big hug. But hell - if you look at the share price at the moment, it is damn cheap for a company that has bloody good odds of delivering market-beating performance over the long term.
Today's price is very cheap on fundamentals and the market opportunity ahead is massive. That's exactly where we are at today. Do with it what you will.
FIG Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
