BUD - Buddy Technologies

peter2 said:

Looking at this as a possible reversal opportunity but I want it to jump through one of my hoops first.

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Does today satisfy the hoop jump Mr P2 ?
Either way, can I ask what your hoop was, in this particular case?
Cheers

BUD had to BO > 0.055 (trade at 0.056) which it did. My order went in at 0.056 but it seems I've missed it.

It's a disappointment that you missed it...
Strong finish on a heavy tech favoured day.
Thanks for your chart. Hoping it keeps up the business.

frugal.rock said:

Strong finish on a heavy tech favoured day.

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22+% increase. is a heavy tech favoured day. No speeding ticket required?

I would just like to take a moment to tell all BUD holders that you are welcome for thursday's bounce

(I sold on tuesday)

It was sad that I didn't buy BUD at the correct time, but I left the limit order in the market and the market filled it two days later.

While I don't like buying when the price is falling I had planned to monitor this trade using the weekly chart, so there was a bit of room.

I think BUD has a long hard slog to get it's business profitable. I hope they've simplified the complex financials that they did have so they can focus on the core manufacturing and retailing aspects of the business.

As noted previously I keep an eye on BUD because I believe there could be an investible business in there if management can scale up efficiently. Unfortunately today's 4C shows its a long way to go yet. Still a big cash burn and all the hype of the last few months has not translated into the sort of improvement to the underlying financials I would like to see. Market seemed to hold a similar view.

I will continue to watch from the sidelines, and enjoy my LIFX lighting throughout my house! Good luck to the current holders and believers.

galumay said:

As noted previously I keep an eye on BUD because I believe there could be an investible business in there if management can scale up efficiently. Unfortunately today's 4C shows its a long way to go yet. Still a big cash burn and all the hype of the last few months has not translated into the sort of improvement to the underlying financials I would like to see. Market seemed to hold a similar view.

I will continue to watch from the sidelines, and enjoy my LIFX lighting throughout my house! Good luck to the current holders and believers.

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Hope so @galumay , keep us informed when you see that turning point into B/E and then into profitability. As you said from outside looks like a great product (I like it ), therefore a little spec firm with great potential, just want the financials to take it to stardom ?

galumay said:

As noted previously I keep an eye on BUD because I believe there could be an investible business in there if management can scale up efficiently. Unfortunately today's 4C shows its a long way to go yet. Still a big cash burn and all the hype of the last few months has not translated into the sort of improvement to the underlying financials I would like to see. Market seemed to hold a similar view.

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Some time ago when BUD was going well, I started to have doubts and as I posted at the time sold out in December 2017.

I kept an eye on it but over time I decided that they were simply not savvy enough to take full advantage of being first to market with the product as I said in post #31

In the end, the competition overwhelmed them and the share price declined consistently.

Now they have another u-beaut product which could give them a lead in the market but they are not really taking advantage of it and are not appearing to get any traction.

Déjà vu all over again, so I continue to pass. Pity, because I liked the company early on in their life and it was kind to me.

They had a roaring sales success but did they give away their margin. Will the customers and onsellers accept a higher price if that is required. They have squirmed out of the previous financial deal and supply stranglehold, and say that they will be earnings +ve. in both halves. Lets see how they go across their 8 point plan. (see the letter released today)...

Big Eight Goals for 2021 In keeping with the spirit of the eight goals presented for 2020, the following eight goals for 2021 provide a North Star for the business to follow through the course of the year.
1) Optimise the experience – top to bottom investments in sales, marketing, app experience, setup experience, support experience, etc… to drive fanatical customer love for our products. Using our products should be as simple a “changing a lightbulb”.
2) Expand the range – same as goal #4 for 2020 – we must differentiate by offering a family of products that consumers can identify with, and further invest in profitably growing share of wallet and units sold per household, while working to drive down costs.
3) Customer segment growth – expanding sales of products from traditional consumer electronics retail locations to worldwide DIY, warehouse club stores, televised shopping, online optimised channels, etc…
4) Supply chain optimisation – greater investments in tooling and integrations with manufacturers to ensure that all products are built to optimize for manufacturing pace and accessibility.
5) Invest in tomorrow’s platforms – this is an investment in sustained engineering whereby the primary hardware and software platforms used by the Company scale to the next 10+ million customers and the next technology advancements.
6) LIFX/Buddy Ohm integration – first product released – through a combination of new and existing LIFX hardware, Ohm platform and potentially new business models, monetise the assets the business has on an integrated basis.
7) Positive monthly EBITDA starting Q1FY22 – achieve positive EBITDA each month on a 6- month trailing average basis (to adjust for some remaining but declining seasonality), starting no later than July 2021
8) Provide market guidance – for the first time ever, we will commit to providing Buddy revenue and EBITDA guidance to the market. Initially we will provide H2FY21 guidance (ie: January 2021 through June 2021), then H1FY22 guidance, before moving to a quarterly model in Q3FY22 a year from now.

more detail in the letter released today
Microsoft Word - 2021 Annual CEO Letter to Shareholders.docx (westpac.com.au)

Interested to see March revised updates when they release.

I suspect the trade suspension is a good thing, wipe the slate clean.

Hopefully SP comes roaring out of the gates with some solid good news updates however it would need some solid support to push it through a few stops.
By all accounts, their starting to get ahead again.

Anyone else still holding?

As annoying as it was that it bounced just after I sold, I didn't rebuy for a reason.



I'd certainly be selling on the next bounce.

The Voluntary Suspension should have ended this morning, at this point in time nothing, no trading nor announcement as to what is going on.

I'm expecting the news (eventually) not to be good.

wabullfrog said:

The Voluntary Suspension should have ended this morning, at this point in time nothing, no trading nor announcement as to what is going on.

I'm expecting the news (eventually) not to be good.

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Right now I'd settle for not good as the announcements were horrendous.

galumay said:

As noted previously I keep an eye on BUD because I believe there could be an investible business in there if management can scale up efficiently. Unfortunately today's 4C shows its a long way to go yet. Still a big cash burn and all the hype of the last few months has not translated into the sort of improvement to the underlying financials I would like to see. Market seemed to hold a similar view.

I will continue to watch from the sidelines, and enjoy my LIFX lighting throughout my house! Good luck to the current holders and believers.

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Sad to see the news today, a mixture of mind boggling incompetence and a black swan event totally outside their control. Unfortunately it has set any progress to an investible business back a long way. It will be a real test of management to see whether they can navigate the business through these setbacks and get it back on a path towards sustainable profitability. A reminder that a great product doesnt necessarily translate into an investible business.

I don't want to comment too much regarding today's update

But have to admit, I've been caught more than a couple of times (big time!) on the wrong side of a "bad result"

I'll wear it every time if it is part of the natural process of Spec trading,

But if it is proven to be subterfuge/incompetence/deceit on behalf of Management or their Financial team

I still get the cr@ps whether I hold the Stock or not


I know this has been one of your "babies" @frugal.rock

I hope for the sake of your ledger, that it works out ok ... Cheers M8.

Oh rock.. you didn't get stung by this did you man?

I'm only ~1 year into a 3 year trade and took some good profit so far.
They've got 24 months to turn it around, however, there will be no roaring out of the gates.

I was thinking they had missed an account or 2, so results were going to be improved...
Ignorant wishful thinking!

Management have made themselves look like a bunch of record breaking Muppets and I feel sorry for anyone else holding, especially if they were in late.
Mistakes made, lessons learnt.

I'm now walking away from this thread. ?️?

Manufacturing in China and the product needs a semiconductor chip. This should be a warning to other companies with products requiring a semiconductor chip. That's just about all electronic goods these days.

It's been well publicised that China is hoarding semiconductor chips. China is making them available to "friends" only at the moment.

@over9k has been mentioning the squeeze in chips for quite some time.

It's unfortunate that BUD has been hit but they won't be the last one.

the (extended) voluntary suspension is to last until the earlier of the Company making an announcement or the commencement of trading on Tuesday, 04 May 2021.


and won't that be an interesting day.