Can anyone see any reason for the big drop over the last few days?
I have to agree with Eagle below (Thanks for the posts). I could hardly believe the RNS on Friday, looks like plain old greed by the directors. Sold all my GVC shares today. Best of luck to all who still hold!
From share mag today: Don’t panic about the recent decline in Bank of Georgia’s (BGEO) share price, triggered by full-year results which missed expectations. A weaker turn from its insurance arm is to blame along with significantly lower revaluation gains within its property business. Analysts have been forced to downgrade their forecasts, yet the financial services group is still expected to grow pre-tax profit by 20% in 2015 to GEL331.4 million.  Stockbroker Numis believe Georgia’s GDP will grow 4.7% this year, which although lower than in recent years will still be envied by governments around Europe. Bank of Georgia is expected to float its healthcare business Aldagi on London’s Main Market in the second half of this year.  The shares still look cheap on 7.9 times forward earnings for 2015. (MD)
Looks like it might the drop here might be down to "missing expectations" - not sure what they were
Last bit from Shares: We see this as a blip as this relatively small company establishes itself in an emerging, and potentially vast, market.
See shares mag article: Last week’s (13 Jan) full-year trading update was a mixed bag, albeit, still showing impressive growth, but it did little for the share price, the stock falling around 7.5% on the day. That slide was down to a below expectations steer for full year 2014 revenues and, presumably earnings before interest, tax, depreciation and amortisation (EBITDA) too, although that much was not stated. The chief worry is that Telit could return to the bad old days of 2011 and 2012 when missing growth targets was an all too frequent feature. We don’t believe that will be the case, but management could do with steering analysts along more cautious growth lines perhaps in future, there’s much to be said for under-promising and over-delivering.  The machine-to-machine (m2m) technology modules maker revealed 2014 revenues will come in at $294 million, versus a consensus of roughly $306 million. Assuming a similar miss on the EBITDA level implies $34.5 million rather than the $36 million anticipated by analyst at CanaccordGenuity. But that 4% sales miss should be put into the context of still impressive 21% growth, almost all of it organic, plus recurring subscription m2mAIR revenues that more than doubled to $210 million.
I think the slide is down to a slight miss in revenues in the update on 13th Jan Vs expectations
The rest of the update looks good to me - not much info on Akazoo, will hopefully find out more in full year results