Whilst I think ITD could still perform well long term I took the option to dump into this buy back at 43c. In part to de risk myself but areas of concern for me are:
- TBF will create negative press when they update they have sold down.
- I found it odd TBF were saying on FB a while back we spoke with management and thy said we expect earnings to be close to last year despite the selling off of a business arm - isn't this insider information and where is the market update (although this appears to now be a pipe dream..)
- Bit unsure on the motives of this buy back considering directors may sell into it.
- Seems to be used at the moment to prop the share price up because rather than let the price drop they just keep snapping up whatever they can at 43c - Fairly sure this is in the 30s if they pulled back.
- Makes no sense as usually you want to buy cheaper so whilst I appreciate them doing this for me will raise some major questions if directors are part of it!
- At some stage the buy back will stop as they only have so much money.
- The sell off of the property and other business seemed to be a necessity as sales are down and have been heavy expenses on new office and MHT.
- Lot of uncertainty around MHT and untried products and we are seeing no evidence/updates on sales so they seem to almost be at square one and only a couple of major clients on the books.
- Bit of a punt on whether these products take off so prefer to invest elsewhere for the time being..
P.S I purchased the Diabetes test today to have a look how it all works so can update you all once I run through the process.
ITD Price at posting:
43.0¢ Sentiment: Sell Disclosure: Not Held
