olddizzy ... I have a friend who likes IRI and had me start...

olddizzy ... I have a friend who likes IRI and had me start reading on it. Must've been around the time MF put out one of their write ups on it.

Anyway, to me it seems to have a lot of positives - all of which I'm sure you've read. The reason's I haven't bought are purely as follows:

(i) I read a quote sometime last year "if you see a band wagon it's best not to jump on". One of the few quotes that is easy to implement, and I like. And I'm sticking to it in practice. IRI is a big band wagon stock. I'm not saying it's not a good stock, however so many write ups and talking about it.
(ii) Probably linked to the above, it doesn't look cheap to me at present. PE of 20 at even $1.10. Actually, that might be reasonable value - possibly. But in the hype of past months at over $1.40, well, takes strong growth for a few years with no hiccups to justify that.

The profit guidance of $2.5M to $2.9M is a pretty big range percentage wise to be giving after the half has finished. Also, with last year's 1st & 2nd half results being $3.6M and $5.4M respectively it is certainly a fall - albeit they have staffed up which would have impacted.

Regardless, they have a lot of ground to cover to return to any growth. I guess if they do it then the market might get excited. For the past 2 years they have had materially higher 2nd halves, so from that perspective something in its favour. I don't know why this would be a seasonal business, however?

Just my musings ...

MJS

Hence although it remains on my watch list I won't buy unless the market thinks "what a dog, too much hype" and sells it down even more. That might never happen, or it might.