CVI, like the rest of the ASX, got trashed yesterday. I think you can thank CNP for that. To say that our market was down that far purely of friday nights DOW retreat or ongoing problems in the US is a stretch. But you can't have one of the nations top 50 companies lose more than 3/4 of it's value in one day without repercussions.
I, myself am focused on mining stocks and have not been overly aware of what goes on with CND. So like many others I was caught by surprise. But I suspect though CND has now been overdone. Just a quick glance at their assets and earnings suggests a bounce from here...maybe 50%. That should have a settling effect on our market. I certainly don't expect an up day on the all ords today with the DOW getting slammed again last night but the fall in our overall market today may be very moderate.
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held