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PipeHawk – shares crash as anticipated orders now to “not be forthcoming”, and how’s ‘going concern’?

By Steve Moore | Friday 5 July 2024

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.

A “Trading update in relation to QM Systems Limited”-titled announcement from PipeHawk (PIP) which commences that this automation, test and manufacturing subsidiary business of the company “as announced by the group on 27 March… has experienced a number of challenges, which have included, inter alia, a reduction in the number of orders as well as the value of orders received. Notwithstanding this challenging environment, the board of directors of the group anticipated that QM would receive two material orders”. Uh oh – “anticipated” and ‘challenging environment’ don’t bode well…
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