denensive and undervalued, page-7

What happened today is an example of what makes me cynical about investing the share market.

Only 3 months ago, Collins IPO'd at $2.50. Pacific Equity Partners had been hoping to get it away for as high as $2.90. $2.50 was the bottom end of its range. All of this off the back of Collins achieving a FY 2012 forecast of $24.7m

Either they overcooked the FY 2012 forecast at the time of float or trading has fallen off a cliff since since I don't see how 3 months after the float they can now give a profit guidance of between $18m and $20m lower. Whole thing doesn't add up.