I suspect it's being held back by the very strong AUD as most of thier earnings and assetts are in USD, so in constant currency terms earnings and NTA have both taken a hit of late.
Once the new shopping complex in Sydney starts bringing in some money(which i think might be this month?) and a few of thier other developements and refurbs start adding some cash and equity value(in AUD and NZD) we should start to see some improvement.
Think the halfyear results are in a little over a month, they rarely dissapoint looking back over the years so i would expect the next decent push to be up rather than down, although i'm still expecting a market pullback soon(was expecting it a few weeks ago) so i think we might get a dip into some better value over the next couple of weeks.
Seems to be extremely quiet on the news front and in Hot Copper threads for WDC at the moment, when this action picks up we should start seeing moves one way or another.
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