I'm with you, management haven't been able to clearly articulate the potential cost savings from such an acquisition and ASIC doesn't seems to be going down since the purchase. I suspect they felt another cycle was gathering pace and wanted to be ahead of the curve by locking in services over the longer term whilst they are in development. But it's pretty amateur mistake to acquire something with limited to no due diligence and a massive premium to the market and now hearing they back office integrations issues and now a major loss - stinks of poor management!
I wasn't a fan of PCook before, but at the moment I am on the fence, I am hoping they flick Higginsville now instead of wasting cash deciding whether to make it a low cost producer. They should flick Rover and deploy the surplus cash into the big murch and bring down those costs.
Stay focussed instead of jumping around.
I'm with you, management haven't been able to clearly articulate...
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Last
$2.86 |
Change
0.050(1.78%) |
Mkt cap ! $2.527B | |||
| Open | High | Low | Value | Volume |
| $2.80 | $2.87 | $2.78 | $13.35M | 4.704M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 72565 | $2.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.86 | 17255 | 1 |
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| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |
