I bought a small parcel a while back and am surprised to see PlaySide down to 17c! That's a huge drop.
It seems that it's come from >
- A downgrade in the work for hire situation.
- A downgrade in their expectations of house made games revenue.
Point 1 as substantial, but not deal breaking, while point 2 in my view is irrelevant except for the continued failure to hit it big and the short term impact on the cash balance.
So I'm a bit puzzled as to whether it's a good time to invest or not.
I still very much see this company as a lottery ticket company. It will either hit it big, remain small with work for hire, or go to zero.
Some of the ballast (Work for Hire) is gone, but the company is a heck of a lot cheaper and the odds are looking a lot better on that lottery ticket.
It does also look like there is a significant risk of a capital raise and this is usually woeful for the share price.
Has anyone else been tracking this?
