Is Appen #APX Undervalued and a Buy?

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Last Thursday, shares in tech stock Appen (ASX: APX) rose nearly 25 per cent on opening before entering a trading halt after receiving a non-binding takeover offer from Telus International with an indicative offer of $9.50 a share. Later that same day, Telus international rescinded the offer causing Appen to tank. In my opinion, the offer by Telus International was opportunistic, given that the tech sector has fallen over 10 per cent in May and over 30 per cent for the year. As such, I believe Appen is worth more because if it has not already bottomed, it is very close to it and is likely to start rising in the not too distant future. So what caused Telus International to walk away?
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TIMESTAMPS
0:00 Intro
1:00 Is Appen (#APT) Undervalued and a Buy?
3:25 Australian Market - Best and Worst Performers
4:29 Australian Market Analysis
11:31 Answering Your Questions
29:00 Outro

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