Taking my medicine on Applicances Online – closed at 188 today for a 17% loss (1% of total capital). (I doubled the size of the short in September at what turned out to be a mediocre price).
Trading statement today shows an increase in revenue growth rate at a higher EBITDA Margin.
I personally dont think such performance can be continued but whilst it is the current price can be – to some extent justified.
In addition I have noticed that AO was strong during the market dislocation in January and February.