$1... I was informed that a major institution wanted to bail on their allocation just before listing and broker declined to let them out and as such they dumped on market. I would say many are selling at a loss because they feel there is money to be made elsewhere. Turnover from my point of view is very low daya on day (a few hundred k at most). However from my point of view no negative news has come out and they have actually implemented stuff ahead of guidance. From the last quarterly:
Integration of initial eight businesses is progressing as planned with synergies tracking ahead of pre-IPO expectations
Intercompany trading between aggregated businesses, and distribution of products and services nationally supported by a coordinated Marketing strategy has commenced.
Growth opportunities identified and enthusiastically supported by ASG management team
Common financial reporting platform and controls processes implemented across all businesses in first two weeks of ownership
We really need a trading update in regards to the finances but the issue is that they have only been trading for 1 month. If they meet or exceed their guidances then based on their PE in the prospectus this thing should be trading in the mid $1 range as per Vested updated analysis.
4WD Price at posting:
87.0¢ Sentiment: Hold Disclosure: Held
