Bonkers Bargains: going to plan
A new management team is executing its plan to accelerate growth, making a number of significant new hires and improving the technology. While the shares have bounced off lows they still have a long way to come back to anywhere near previous highs. Read on here for our thoughts on this compelling recovery play, including coverage of the latest results.
The pandemic wrought havoc on many business models, but this Bonkers Bargain weathered the crisis better than most. Despite the disruptive climate it continued to invest in its technology and people and also expand its geographic footprint. Throughought this considerable period of investment it also continued to generate attractive profits. Unfortunately, the unexpected departure of the co-founder and CEO, followed by the resignation of the CFO has muddied the waters, bringing a sharp sell-off in the shares. A plan to accelerate growth under the new management team and unexpected fund raise saw the shares fall back. Is this really a Bonkers Bargain opportunity, or a classic…