Bambuser: Several negative news
Earlier this morning Bambuser pre-released the results for the period July-December 2017, communicated that the company does not expect to reach its financial targets and announced that CEO Hans Eriksson will resign. The company did further state that it is scaling down its US sales organization, which we find very worrisome given that we perceived the US field service market to be one of the company’s greatest opportunities. Altogether, today’s negative news imply that we will have to revise our investment case and valuation.