Does MM have any interest in Bravura (BVS)?
Hi guys,
One for the newsletter - Any thoughts or interest on BVS?
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Answer
Hi Justin,
BVS has endured an awful 3-years falling over -90% along the way, its bounced slightly of late with directors continuing to buy the stock and while MM isn’t looking to buy at the moment it’s now looking more interesting as a buy than over the last few years i.e. directors usually buy their own stock because they believe its going higher. The issue for the new CEO though is now a loss of confidence from the market after turning a profitable tech business into an unprofitable one. That said, if they get it right, there could be some huge upside here when conditions stabilise. A deep value turnaround opportunity that has plenty of warts could be the best description.
