I still hold because the long thesis isn't broken for me. The GPR revenue is only 15% of revenue. There is still a strong business here compartmenting the CBI issue.

But.

I though Emma was doing fine. Getting it done, given the sh*tshow she inherited. So its weird they have moved her on. Change, followed by stability was needed here... and thats not happening now.

Ugh. I'll have to revisit this one again now.

@reddogaustin I think the chnage is driven by Alta Fox. Activist investors usually don't like waiting around for ships to turn.

A similar thing happened to a company I worked for, activist investors bought in and tried to force the CEO to sell parts of the business, he wouldn't do it so they sacked him, brought in a new CEO and then proceeded to sell off every part of the business that didn't meet their profitability benchmark or wasn't considered "core" business.

Emma Shand just wasn't the person for the outcome Alta Fox is after. They obviously see a faster profit to be made from selling off parts or all of the business than fixing it.

That makes sense. And probably a likely outcome. Thanks for the thoughts!

I sense impatience in the markets, so it makes sense they want to move faster than Emma was moving. Also as I suppose Alta Fox's mandate is like a house-flipper, the longer you hold your 'asset' to be flipped the more risk you hold.

I think i'll take the simple route, and continue to hold. Makes it a bit exciting!

I was lucky to sell out of this one early albeit still taking a pretty good hit. Big learning lesson. I wouldn’t be buying EML at all but I doubt it goes to 0. It has some very good assets within the company. Particularly the gift card business and sentenial looks interesting.

Regardless of the eventual outcome, it must be such a relief just to see the back of such a dreg in your portfolio.

yes, so much yikes.....currently down 57% on this one. Time to sell and move on.