FIG 0.00% 2.0¢ freedom insurance group ltd

Interesting day... Just when momentum was starting to pick up in...

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  1. 159 Posts.
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    Interesting day... 


    Just when momentum was starting to pick up in the SP. 


    Negatives: 

    -- no new sales 

    -- st Andrew's unclear 

    -- no strategy for future income streams

    -- significant investor and market reputational damage

    -- CEO and soon CFO gone... could possibly offload their shares. 


    Positives:

    -- cost management under control very quickly

    -- less likely to have any issues with regulator with new model 

    -- due to above more likely regulator will let st Andrew's through... but will be a question of whether fig can get funding

    -- strategic review continues regarding future business model and new and emerging products.  

    -- strong customers currently at 350k. 

    -- plenty of cash for short term and with cost savings may end up more profitable in very short term.


    overall, the announcement cleared up a lot and yes there are still some uncertainties but some of them can be positive soon to come too. 


    I'm still a buy.  Loaded up more today... upside is far greater than downside risk.



    Imo dyor 


    But yes no wonder CFO is leaving... lol how could they stuff that up and take a day to correct.  Hopefully people reevaluate. 


    Give it a few weeks before we are back around .13 and then higher hopefully with some positive announcements regarding strategic direction. 

 
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