We all know the UK needs more houses, and that the ones already built are waaay unaffordable.
The scramble to move house in 2021 corresponded with a big rally for building and construction stocks in 2021, admittedly alongside a lot of other parts of the UK stock market.
That rally retraced by exactly 61.8% (Fibonacci) in 2022 and STOPPED FALLING.
Since then its...
A risky play of course but after losing over 80% of it's value due to JPMorgan selling, Covid 19 & a slowdown in sales, company has sold 2 assets & have at present around £142m in cash
I believe a lot of the turmoil is already priced in ahead of results.
Mcap is at £142m which means their business is valued at cash level.
Very undervalued considering their cash...
