Business
‘Fundamentals strong’: Nuix parries investor worries – The Australian Financial Review
After revelations that investors were doubtful Nuix would hit its full-year prospectus targets, the company reaffirmed its estimates on Monday.
I have no doubt its still a good quality offering, were just making sure were paying the right price.
Nuix shares have plummeted more than 44 per cent since February 25 to $5 – now trading below its $5.31 issue price.
The share sell-off was triggered by a 4 per cent decline in first-half revenue as it was hit by COVID-19 and US election-related sales challenges that affected US government contracts. It also had to contend with unexpected currency headwinds.
Positioned as a fast-growing tech stock,…
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