Earnings Working Against GRITEE, Inc.’s (KOSDAQ:204020) Share Price Following 27% Dive
GRITEE, Inc. (KOSDAQ:204020) shareholders won’t be pleased to see that the share price has had a very rough month, dropping 27% and undoing the prior period’s positive performance. The recent drop has obliterated the annual return, with the share price now down 9.5% over that longer period.
Even after such a large drop in price, GRITEE’s price-to-earnings (or “P/E”) ratio of 7.7x might still make it look like a buy right now compared to the market in Korea, where around half of the companies have P/E ratios above 15x and even P/E’s above 33x are quite common. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
