Naked Wines for me remains a stock to avoid (irrespective whether you are a drinker…or not)
By Chris Bailey | Tuesday 19 September 2023
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Fifteen months ago I said that “Naked Wines (WINE) shareholders will probably need a drink!”. Back then, the company’s shares were just over 150p and today they are below 65p. And yet, remarkably, the company says “adjusted EBIT of £17.4m, or £16.3m on a 52-week comparable basis (FY22: £2.0m), ahead of guidance (£13-17m) due to lower new customer investment”. What is going on at this, not even now £50 million market cap, business?
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