RE:RE:RE:RE:Sylogist Beats Earnings Expectations and Punished For ItThis stock before was sold as an "income investment" and passive income investors are notorious for not reading reports or listening to conference calls. In this case, the dividend cut was clearly foreshadowed in the Q3 earnings call as the CEO was asked point blank if they were going to cut the dividend.
What is really interesting based on some of the info posted here is that first SYZ had the NCIB ready to go and it's been active to cushion the blow of the dividend cut. Also, what it looks like is that you just had two funds who disclosed that they have materially increased their position. So these funds might have been ready to rock and roll on the weakness as we have had an intense couple of weeks here. The stock rebounded so fast because of this large institution buying.
These small cap growth funds believe in the job management is doing ever since the new CEO came on. I was reading through some of their internal reports available on the internet and they never liked old management - SYZ is now PennerFund's largest small cap investment.
At the end of the day, the Q4 results published were actually quite good and SYZ is on the right path to growth at a reasonable price.