Good call on the e-comerce writedown implications. The 20-40M market cap calc makes sense, and the fact that they're keeping a money-losing segment open for optionality when domestic growth is already slowing feels like a drg. The Portugal bottleneck stuff is messy short-term, but diversifying supply chains through Malta and Czechia should help margins recover by Q3 once that old biomass clears.
Yeah some noise this quarter. I don't mind some money in e-commerce but it has been quite a drag. Hoping they can keep the option open with minimal investment.
Hoping this company looks smoother this time next year.
Good call on the e-comerce writedown implications. The 20-40M market cap calc makes sense, and the fact that they're keeping a money-losing segment open for optionality when domestic growth is already slowing feels like a drg. The Portugal bottleneck stuff is messy short-term, but diversifying supply chains through Malta and Czechia should help margins recover by Q3 once that old biomass clears.
Yeah some noise this quarter. I don't mind some money in e-commerce but it has been quite a drag. Hoping they can keep the option open with minimal investment.
Hoping this company looks smoother this time next year.