Transport data technology group Cordel (CRDL) states that it is “delighted by another major contract win in the UK”. So what of the shares currently responding approaching 24% higher to 6.5p?
Previously writing on transport data technology group Cordel (CRDL), in February with the shares falling below 9p I concluded that my prior ‘growth trend’ and cash burn concerns looked to remain valid. So what of now a trading update and the shares currently further lower towards 6p?
Previously writing on transport data technology group when it was Maestrano, in October with the shares down to 13.5p I concluded there looked to still be much ‘growth trend’ work to do to justify the valuation and meanwhile there was also cash burn concern and I continued to avoid. The now Cordel Group (CRDL) has now announced results for its half-year ended 31st December 2021 including that “we have delivered positive progress with contract wins and exciting partnerships”. So why are the shares a further more than 10% lower to below 9p?...
