I think pretty much the same way. My own position size is so high that I don’t want to increase the risk further during times of negative news. The negative news, of course, affected the markets rather than the company in this instance.
It’s unlikely that all the shares sold at 2.5 euros are UB’s sales, but in the case of large sell orders, it is reasonable to assume the source of the selling. Referring to my previous message. And it is indeed reasonable to assume that UB’s shares are starting to run low.
In addition to the sell side, one must, of course, also consider the buy side. It may be that after UB’s sales, the greatest buying appetite for the company’s stock has also been satisfied for the time being. It may also be that the good sales volume in Q1 has attracted buyers who expect the sales to signal the company’s rapid growth and expect that growth to happen with high profitability.
Personally, I am confident about the strong volume figures. The fact that the visible campaign sales extended into Q2, and that the sales from many new product launches will only be more widely visible then, gives reason to expect that Q1 was not just a one-off stroke of luck. Regarding EBITDA, I would be a bit more skeptical, at least concerning the upper end of the guidance range.