Today's announcement was expected so it was not new news, but is part of the foundation for investors to feel comfortable that RAC is able to deliver on what it promises once again.
Fundamentally, it doesn't matter how good the results you get in the clinic or lab, if the market doesn't trust management to deliver then it is all for nothing. The drama of 2023 really damaged investor trust in management and it is going to take time for people to feel that is all behind us and focus on the future.
My personal experience investing in turnaround stories is they take 9-12 months. I have been surprised how quickly investor sentiment has changed as I was not expecting it to be so soon, but RAC is not a conventional company.
Today's announcement was expected so it was not new news, but is...
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Last
$1.75 |
Change
0.180(11.5%) |
Mkt cap ! $287.5M | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.80 | $1.58 | $772.4K | 450.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2354 | $1.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.76 | 525 | 1 |
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| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$1.75 |
Change
0.180 ( 11.2 %) |
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| Open | High | Low | Volume | ||
| $1.60 | $1.80 | $1.58 | 22024 | ||
| Last updated 15.59pm 06/06/2024 ? | |||||
| RAC (ASX) Chart |