Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
If the share holders voted on this split and thought it was such a great plan why has the arse fallen out of both today on the ASX Monday morning, wasn't it explained to the share holders what would happen. If it was such a great idea why didn't the share price go up. Hi Market Matters WEB has dropped 32% today. It's on your Hitlist. What is your current view? Has the reason for the drop today changed your opinion?
Hi guys.
The rationale was that the better/higher growth B2B offering (now WEB) would attract a higher multiple on its own, and with that being the lions share of the combined group, shareholders would be better off. Trading conditions though, have come under pressure, and it feels to us that management have been sideswiped by a changing environment which has put pressure on margins. They are not on an island here, with Flight Centre (FLT) today highlighting weakness in trade to start FY25. Without sounding like we’re defending WEB management/board, it looks like things in the travel sector have cooled a lot in recent weeks.
Regarding this weeks aggressive sell-off. Yes, the stock has been removed from our Hitlist, and we wrote a specific report covering the sector (here) on Tuesday.
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