Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 16 December 2016

Sirtex crashes again

That's not a correction...

This is what allegedly passes for an 'investment grade' stock in Australia these days...

I thought we'd seen it all with yesterday's back and forth between ASX Listings Compliance and the company, but two hours after the close of trade on a Friday afternoon Sirtex snuck out this release.

Not that putting the release out after the bell made any difference, as the share price had already crashed during trade (it's almost as if someone knew this was coming!).

No surprises, of course, red flags everywhere as highlighted yesterday by Motley Fool. 

This puts the valuation down by more than 62 per cent since January. 

Cue Benny Hill music.