Ann: H1 FY2021 results announcement, page-55

I’ve been in the markets a long time .....certainly long enough to have seen many cycles and long enough to know that the markets always overreact. This has been an overhyped stock and it’s price needed a gangbusters result today to hold its value - ‘gangbusters’ was priced in so not delivering has meant a savage sell down. It happens.

I’m not joining in the panic selling - I’m still happy with NXL’s place in my portfolio. I wanted some tech exposure (I like the business it’s in - big data and the cyber security specialty) and I accept the risk. I’m confident in time NXL will be a good investment.

A price in the 6’s or 7’s is probably more reflective of where the business is right now and is probably where it should’ve settled after listing. I’m now sitting on a sizeable paper loss like nearly everyone posting today - but that’s all it is if you don’t panic - a paper or notional loss.

As the great man Warren Buffett once said :

“Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.”