So here's what the announcement shows:
NPAT will be a meagre -3.5mil v/s -16 mil a year ago. That is 457% improvement despite of huge legal costs.
Guess the instos sold off as they wanted to see a big positive profit to fit their rationale for investing in NXL IPO.
The conundrum of being an insto is that they HAVE TO take action when some announcement doesn't fit their strategy and principle.
This announcement didn't and hence the sell-off. The institutional sentiment would need to change towards Nuix for it's SP to change course.
But that won't happen until the old perspective is washed off with huge losses.
Too bad, individual holders now have an even prolonged redemption.
IMO. DYOR.
Ann: 1H22 results update, page-55
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Last
$5.40 |
Change
-0.040(0.74%) |
Mkt cap ! $1.774B | |||
| Open | High | Low | Value | Volume |
| $5.42 | $5.45 | $5.21 | $8.441M | 1.573M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $5.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.40 | 8334 | 1 |
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| NXL (ASX) Chart |