...NCM share price action this whole year has little to do with the fundamentals of the company...
...NCM share price action is more to do with the various ETF's that it is a component of...
...look at ETFs like RING, PSAU and some others i have yet to discover and see how the RING, PSAU price chart shape is almost identical to NCM price chart shape
...this won't change until something fundamentally significant changes with NCM ...which will be soon imo...
...thus, NCM share price is currently beholden to the machinations of people who trade in these ETFs...most likely hedge funds/institutions/investment banks etc
...imo, quite a few big hedge funds have been forced to sell their holdings of these ETFs this year due to wrong way bets at a macro level, like the anti-Euro trade
...so when they unwound their anti Euro bets, they also unwound their long ETFs bet which contained NCM as significant component
...this also explains why gold stocks which are NOT a component of these ETFs have had better relative performance throughout the year..
...which leads to my conclusion that NCM has been driven to massively undervalued levels due to no fault of its own
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