Their does appear to be some strategy around the selling and buying going on, forcing the price down! This stock is now considerably undervalued at these prices given the value of the business; one thought could be, is that someone is picking up stock at these record low levels tempting people to sell as the stock is relatively tightly held, but with some knowledge it will soon turnaround, maybe the company is being positioned to be sold as the chairman and founder has been at the helm since 1984!
Whatever the reason why the stock has fallen back to now 2003 sp levels, surely it is part of the responsibility of management to provide some formal address to the market and therefore share holders’ why some $160M (around 70%) of the market capitalisation of the company has been lost in the last 12 months!!
CND Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)