Wow, brutal day huh?!
I suspect some of the sell off has to do with margin calls. You have to remember that this stock was added to comsec's list recently when the SP was in the low 70's...
The disappointment of recent anns has surely faded by now (and enough time has passed for those to exit that want to exit), so the only other reason IMO is sentiment.
I think the US will fall again tonight, but my prediction is that the bottom is another 3-5% from here. More pain to come in the short term, but CVN should be adding serious amounts of production at the same time as the market recovers a bit. Net result is that next week COULD be a great time to top up/enter.
EL, Harlee, Kiwi (Aussie?) - you are all very quiet, you still out there??
rang company, page-8
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 16.5¢ | 15.5¢ | $143.0K | 897.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 147063 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 795942 | 6 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| CVN (ASX) Chart |