In some Discord group earlier this year, I was fretting about how soon M&A deals would start popping up in Europe. There are some pretty interesting small companies here that could easily slip into the portfolio of some US conglomerate—all sorts of medtech and drug developers, niche tech, etc.
Then Revenio does what it has been promising investors for years; seeking growth in its own market, which is exactly what it was always thought to be: narrow but profitable enough.
The reaction is a total beatdown. Everything looks completely wrong in this case. Were expectations too high? It’s been a downhill slide for probably four years already, and now it’s getting hit even harder. Is there any chance that Visionix isn’t a poison pill that will rot Revenio? What else could go wrong? What if it turns out now that it’s the Danish major shareholder who’s been dumping their shares? The executives’ bonuses probably already jumped significantly. Is there any scenario where this won’t be completely weak and mediocre crap for the next 5–10 years?