Maybe just HH trying to protect their investment, whilst IFL just want to reduce their exposure (just in case).
Always hard to know what to do when you get two respected insto's taking different positions.
Generally, when you see 2 or more insto's exiting the register (such as with RHG) then it's a pretty good sign.
When there are differing views then check the track record of the funds involved.
Don't know much about IFL's track record, but of the stocks I watch, the HH value fund took a substantial position in ITE at 14c - it is now trading at 9c.
Regardless, I still feel CDR is a roll of the dice. A lot of positives (which have been enumerated before by other people).
My personal view is that on the positive side they are still getting new contracts and stores. On the negative side the "lifeline" loan recently provided by the banks would have come with heavy conditions (to give them time to organise a structured buy-out, or to find a trade buyer, for example).
If worst comes to worst, and the banks lose patience then they may well call in the administrators.
Not a stock I am prepared to punt on!!
CDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
