Ha based on what?? How do you explain another disappointing earnings report last week? That's 4 in a row since the Fulton acquisition. Revenues were up because of the acquisition. And that was the last quarter they will show that kind of "growth" because that was the 4th quarter with Fulton. The comps will now get MUCH tougher.
Revenues dropped off sharply from the prior 3 quarters. Partly because of seasonality. But the current quarter is the seasonally weakest. So the next earnings report will be another ugly loss.
AEY has a broken business model. They sold off their profitable cable business. Telco is unprofitable and showing little to no growth. Fulton could see a bit of growth with 5G, but it won't matter because their gross margins are so terrible. They're just never gonna show profits with such poor gross margins. That's why AEY was able to buy Fulton last year for $1.3M. Probably right before they declared bankruptcy. Do you really think if they had something, they would have sold it for a tiny fraction of revenues?? Of course not. Because they know it's a broken business.
AEY keeps losing money. They talk a good game...every quarter we hear about all the top & bottom line improvements coming...then a few months later we get the earnings report and it's like what the heck were they talking about. Classic overpromise and underdeliver.
Last week they also told us they're going to need to do a capital raise soon (no surprise as they're continuing to post losses and they're almost out of money). What will those shares be priced at? $2?
I'm amazed the stock is still holding near $3. Big run this month. For absolutely no reason at all. But I guess the stock market is extremely frothy and lots of junk is flying. When you see that kind of action, you're getting close to a market peak.
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