SP hit $1.06 in Nov 16 after a forecast for growth of 10% to 15% in revenues and EBITDA of 13% to 14%
Shortly after they announced a better performance, no matter how you look at it, the share price was languishing at 76 cents. Go figure?:-
Two Institutions were selling down during that period which probably explains it.
Their admission to the All Ordinaries in march 17 and Regal Funds buying could have been the catalyst for the share price to slowly climb back to 90c.
The subsequent decline in the share price following the introduction of the works and failing to meet downgraded forecasts certainly took its toll on the SP which I suspect had further downward pressure applied by the removal from the all ordinaries index. Forecast EBITDA drops $5m Market cap drops $30m. If it is a one off event it looks like a great buying opportunity.
