Well, I see there is some support at 5 cents / share, though it wouldn't stand the rush if all the sellers getting desperate ...
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Hi. I am not comfortable (goes withouy saying) but have not given up on it like others. I like the space they are in, I like the calibre and diversity of their clients and that they bad moves to cause this tumble were related to bad financial decisions (underline 'bad'). They do have a unique issue with notifying the market on deals v secrecy, which some cannot get their he around. I'm not buying but holding and awaiting earnings report. May be good move to bail but also may be well oversold.
I have large appetite for risk - others don't but still obviously bought.
Ps. Singapore didn't seem a write off. I got to hear about their progress on large clients which gave (and gives) me hope.
Pps. I do recall I had a few people calling me crazy at buying Xero for $2 and calling it a but at $7. Lol.
I am a bit disappointed in Wynyard's management team. While the sp is plunging, no one has come out to say something, e.g. sales report of ACTA by far, or whether or not to maintaining revenue guidance 16 as forecasted, to rebuild the investors' confidences. Well, just silence......
Not really my style to contribute a thought on a share thread I don't hold or never held but hey, RAK misery needs company so this one will be on the same level soon although gut feels say RAK has more leeway right now :D
disc: still holding on to RAK :mad ;:
http://www.nbr.co.nz/article/wynyard...ipton-b-192815
From NBR not pay walled, read comments at the bottom in particular, very scathing indeed. Surely CEO's position is untenable now, board needs to move swiftly to arrest further damage to shareholder's value.
Heading back up..."bargin" hunters buying a few ;)
It was a clear over-reaction today and especially dangerous when people 'panic' and 'assume'.
Definitely a bit of panic... although I believe the panic is justified (non-profitable company taking on debt??), just maybe not all in 1 day's trading
Disclosure: never held, recommended to get out of when share price was around $1
They merely put in a facility to reduce risk for the company, of course the terms aren't ideal, but this is a major shareholder saying they would rather loan their money for a brief period than be further diluted. People are thinking this companies going to the ground, but fail to consider that if a major shareholder is giving them such a facility then there is confidence they won't be going bust. My view of it is a cashflow measure more than anything else and actually reduces the contingent risk they had on delayed contracts.
I would expect management to front up with a statement next week to steady the ship. Sometimes the share price is really beyond the control of management. Remember price is what you pay and value is what you get. I don't know how value just immediately dropped so much especially considering there is so much reading between the lines. The company did say it was looking to break-even so maybe this facility is for cash flow in between the period where they fully stretch themselves.
More buying on way up today then there was on the way down
That should shareholders some confidence