Q: At first glance, today's earnings look pretty good. But similar to WELL, we are again seeing a significant downward move on the SP. The difference is that the trading volume is pretty modest so it could just be a few retail investors that are "selling on the news." At any rate, would appreciate your views.
5i Research Answer:
Results were mixed, but with the stock up nicely over the past year this looks more like profit-taking than anything else to us. Growth was solid, the balance sheet is fine and good growth is expected into 2024. It is not 'cheap' but has shown consistent growth since 2018, and revenue has quadrupled since then. We think it looks OK here.