The company has certainly had quite a fiasco throughout 2024, and this offering was the cherry on top. Management has changed and been dismissed, among other things.
In any case, this is cheap. The industry is interesting and relatively recession-proof, and management has even succeeded in their previous quarterly earnings calls in pinpointing the start of organic growth to “late Q4/24”, which seems to have materialized.
I already have significant losses from this in my portfolio, so I’m a bit hesitant to pour more money into this, even though the situation is clearly improving.
Still, this is indeed an attractive situation with the market cap, low multiples, and M&A (if successful), meaning theoretically years of growth. 10-bagger potential?