Post by
rational on Mar 28, 2023 9:48am
Evidence of non-confidence
If we needed more evidence of the market's lack of confidence in GRN management, share price has now dropped below book value. This is particularly amazing for a company with a clean balance sheet. I have to wonder if the market will test 'tangible' book value next.
On paper, aspects of the company's strategy sound intriguing, but they haven't been able to execute. The last two conference calls, while cordial, I think hurt their credibility badly. In particular, I thought the answer to the question of 'At what sales level do you become profitable?' sounded evasive. And the discussion around a recent money-losing project was painful to listen to, and, in my opinion, raised more questions about their ability to predict, or control, profitability.
The industry should be peaking, so there's still time for a management reset.
Comment by
Gonz120 on Mar 28, 2023 12:28pm
I agree that a BOD/ Management change is desperately needed to restore confidence in this company
Comment by
GHZTECHY on Mar 28, 2023 12:38pm
4 of the 7 Directors are Independents. What are they doing, sitting on there hands looking pretty collecting a pay check?