IMO very good management by CVO to issue an update to address the market reaction to FLTs release.
The $1.70 mark is a strong area of market support for CVO and it bounced off it quickly today.
But if this level fails in the near future then it could be a grim period ahead.
The problem for CVO is that it trades on relatively high P/E and if the sector comes under a cloud which now appears to be the case, then CVO might be seen to warrant a lower P/E.....?
I like the business model and will stick with this one.
Cheers
Gosouth
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