Q: See any reason to not add at these prices? I have a half position.
5i Research Answer:
VBNK now trades at 9.5X forward earnings, and part of the selloff can be attributed to the broader market weakness, but also partially due to its share issuance (it raised $107M in December). We continue to like the company's management team and the direction it is pursuing with growth expansion plans in the US. We would be comfortable adding to VBNK here.