Greencross (GXL) Having a Dog of a Day

GXL has been under pressure, with the stock down ~30% for the qtr so far. GXL operates the largest network of veterinary service clinics and specialist pet retail stores in Australia. The market is concerned by the company's pace of growth, given the risky combination of rapid growth/ high gearing model the company is operating under to maintain their aggressive growth strategies (acquisitions and store roll-out). Short interest has increased significantly in the last few months (see below) and we could see further near term pressure as the stock is out of favour with Investors currently.


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