There was a fire incident and I guess that factory was affected for most of June and July. Apart from that not sure what’s happening here. We’ll have to wait for the call on Monday. The price didn’t correct much today which was surprising. Maybe it’s a sign that the valuations are so low that the stock price won’t react too negatively to bad news. At 1.5 times sales, any whiff of s recovery can lead to a swift rerating.
Bought a small position recently at about 580, purely coz it seemed like close to a bottom business wise. Will wait to understand what went wrong and how much worse can things get before they get better, and then increase the size if it fits the risk reward.
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