Actually, what is happening right now is that someone (Hayden Stephens) who, at AR17 (Sep17) was the 6th largest shareholder in the Company, holding ~4.3 million shares, and who is presently a director /executive, is a current seller.
Between 2013 and Feb28/18, he barely sold any shares (<100,000), but in the past week, he has sold >30,000 shares. That’s, >3.0 million shares in the old language. But, then again, that’s probably considered historical and of no relevance to the future (ie: an insider who hasn’t been selling for the past ~5 years but has offloaded ~3/4 of his holding in the past week).
So, unless you are a day trader or purely a technical trader (looking for signals based on herd mentality /the mob instinct), then you would also be looking at the fundamentals.
What the fundamentals say is that they still need to get their expenses right and in proper proportion. At H18, they hadn’t done this and judging by what’s yet to come (ie: closure /exit from GEL and downsizing further to 3/4 current size or less), they won’t have this sorted in time for F18. Perhaps, in time for H19 or perhaps 2H19, but not for quite some time, yet. How long do you think that it takes to exit people or to quit leases or, more the point, to convert PI cases (from first contact through to conclusion)? After all, with the finances, they first started their restructuring initiatives during >2 years ago and they’re still at it.
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