The issue ATM I believe was news being spread that we in OZ have replicated the virus and are able to test potential carriers even when they are not exhibiting any symptoms (media driven). Hence, I think a lot of the steam left the sails due to the perception we can now slow the virus down or stop its spread. After a big stellar run (also media driven), we saw profit taking and quite a few leave as the hype/wind had died down in a lot of minds.
Now I really do hope the claims made are true however, until I have more than a claim I am not convinced that one we can screen and detect the virus in infected people showing no symptoms (that bit was mentioned quickly without many details) and that just because we replicated it that automatically means a cure? We a long way from a cure. It seems the spread continues and is appearing in more and more countries around the world (more confirmed cases).
Due to incubation periods who knows how many are affected because even if the claim to screening is true (I reserve judgment until I see confirmation) its just been discovered so how many got thru carrying the virus and spread it. So while the market and the world feels more and more that the virus has been dealt with now with our new "breakthroughs" (or under control) the reality maybe something vastly different.
But while the market feels this way then you can expect to see weakness in ZNO SP since it ran on the back of this outbreak (media frenzy). If we start seeing (which I am fearful we will) reports about the virus despite attempts to contain is out of hand and the situation is way worse then originally thought then we will see ZNO shoot back up is my guess. BTW I hope the virus is done I just don't think so. So waiting for the media to once again change its stance.
On a side note ZNO is a real Co. with real products etc I am just talking very short term (virus related and current SP fall) this has nothing to do with ZNO and its long term prospects, sales etc.
ZNO Price at posting:
66.0¢ Sentiment: Hold Disclosure: Held
