Long term trend and return to profitability
It is certainly no secret that many investors (including myself) have been feeling the pain being invested in this company over the last year, but the long term upward trend is still quite nice.
Recently we have bounced up off the bottom of the long term uptrend line, and looks like we have started a succession of higher highs and higher lows. Line on the chart is the 250 day moving average.
Without any major news or market events, and if the SP can maintain this recent performance, we should gradually move back up in the low $20’s by the time Q4 earnings are released (late sept).
The market has been punishing tech companies that are not turning a profit, regardless of the revenue. Unfortunately, we are in that boat but hopefully not much longer. On the latest CFRA report, looks like positive earnings are expected in Q4.
If the report is positive, those $30+ targets on the street will look a lot more realistic and likely be increased, as fiscal 2023 revenue is expected to be over $270 million US, and they usually beat estimates.
Who knows, maybe Mr. Wignall will reward investors early with the Q3 report in May.
GLTA