The writing of this debacle has been on the wall for several years. I am amazed the SP has held up as well as it has for as long as it has.
In NZ we call it the "Sharsies Effect". Where you have unsophisticated investors being sold hook line and sinker on AirNZ so that today they all end up with 6% of the company. They are now in a tight spot. But I suspect they will all see these as an opportunity to buy cheap shares naively thinking they will be worth at least AU1.17 when the dust settles.
This arenta "sell". These are a "SELL! !!!!!"
All there is is massive downside risk and absolutely zero upside potential.
AIZ Price at posting:
$1.18 Sentiment: Sell Disclosure: Not Held
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