A significant governance blow, but a 32% drop feels like an overreaction for a business whose compounding engine remains intact. I added to my position on Friday.
Overreaction or not, this is still a huge red flag. The AMF doesn’t launch investigation for no reason. He may be a good capital allocator and have a solid growth road map, but this clearly highlights a huge flaw in terms of governance. I wouldn’t touch this company despite being a good compounding machine. We’ll see how it plays out, but governance issues like these shouldn’t be ignored. Cheers!
Agreed that it’s a red flag. The actions, if true are highly unethical and have no place in public markets or on a board.
That said, this appears to be solely an individual issue, with no evidence of wider involvement of the rest of the team who I continue to back. The business should be able to survive.
It could take some time to regain trust though, so it will be interesting to see how it develops from here!
Overreaction or not, this is still a huge red flag. The AMF doesn’t launch investigation for no reason. He may be a good capital allocator and have a solid growth road map, but this clearly highlights a huge flaw in terms of governance. I wouldn’t touch this company despite being a good compounding machine. We’ll see how it plays out, but governance issues like these shouldn’t be ignored. Cheers!
Agreed that it’s a red flag. The actions, if true are highly unethical and have no place in public markets or on a board.
That said, this appears to be solely an individual issue, with no evidence of wider involvement of the rest of the team who I continue to back. The business should be able to survive.
It could take some time to regain trust though, so it will be interesting to see how it develops from here!
Yes, this will definitely be an interesting story to follow!