There is no way to sugarcoat it: we got the API recommendation wrong. Our thesis is not coming close to playing out and in fact, the opposite appears to be occurring. In this situation, we believe it is better to perform the autopsy from afar rather than waiting for things to get better, without sufficient faith that such an outcome is sufficiently likely.
We recommend you Sell Australian Pharmaceutical Industries.
IMO there is a price i would buy back into API but sp would need to slide a fair bit to get me interested again... and i'll be watching if they introduce the Cannabis products into the Priceline stores. Won't mind if they wholesale them to independent pharmacies outside their own groups but will take extra notice if they use their own.
API Price at posting:
$1.38 Sentiment: None Disclosure: Not Held
