Q: Matt is getting slaughtered!! At what point (price) do you feel it becomes interesting for a small position?
5i Research Answer:
There was not much to like in the quarter/outlook. In additiona to rising costs and high debt, there is a deteriorating demand profile for Shawflex products in Canada, continued softness in the energy sector which impacts Flexpipe and uncertain impacts on margins from tariffs. The stock is cheap but could be a value trap for a while now and we do not like the debt. We have other comments posted as well. We would be more interested closer to $6.