RE:Selling continuesEveryone waiting to see if it goes down before getting in. Not much has changed in the business. Earnings from the new acquisition has not come in but the shares dilution is upfront.
In terms of guidance - that is why I like Great Canadian Gaming management. CEO says clearly to the analsys - I am against giving any future guidance. You can do your own homework.
Would have been better for Rafi to say that there are too many unknowns right now - so we will defer giving any guidance till we can get in with Betstars and have a better understanding of the business and wait for clarity in Governemnt rule changes around the world.
Then again maybe they will buy back the shares sold at $38 USD. That extra $250M in bonds sold can be used to buy up shares if they had the cash.
This is a buy and forget story for now. yaymakemoney wrote: Was hoping it would be a 1-day dump, but the selling is following through, not a good sign.
We are now down 30% in 3 weeks. The eophoria has gone and reality has hit.
What frustrates me about this stock is that sentiment that management had created was so fantastic, then they go ahead and destroy it themselves.
Why be that breathless and optimistic about their acquisitions, and then just a month after closing, restate their guidance? Did they get ahead of themselves? Rookie (and stupid move).
Rafi was doing so well since his takeover and the page had been turned, and how he goes ahead and shoots himself - and shareholders - in the foot.
Once positive sentiment is gone in this manner, it's hard to get it back. Management credibility can take a lifetime to earn and an instant to disappear.