Bit of that going around atm @Bear77

Take a look at the update from Decmil yesterday and tell me if you think it warrants an increase in the share price of up to 36%.

I can't fathom the bin fire the market had to be expecting Decmil to deliver in order to rerate it upwards after delivering this. Maybe they're giving it props for having a $16m MC and delivering a $102m loss - that couldn't be easy. To be fair they did disclose a strong order book but I can't get to their FY22 numbers without assuming a negative gross margin. Not much point in having a strong order book if you've tendered below cost.

Decmil is probably the pick of the bunch but there are some other results, which have prompted market moves that are a little perplexing. Atomos came in at the bottom of guidance and got a rocket under it. Aerometrix was so-so and did the same. Birddog was another who proudly announced they'd slowed significantly and was rewarded with a 20% rise on the day.

Presumably it's all about expectation versus reality but it's a strange market when expectation is so divergent to company guidance.

[None held]