Knick, anything closely associated with high-tech is selling down as if tainted by the NASDAQ in the US. I agree that Facebook and NextDC don't belong in the same package, but that's my guess. Possibly technology ETFs have both in their portfolio, and any selloff means fund managers have to sell them even though different fish.
Also, I think it's due to current risk aversion -- stocks like NXT with no profits are in the risk category.
A third factor is Acorn -- they were selling down and i recall from other stocks Acorn has a nasty habit of selling quickly, which can put pressure on the sp. They sold 2.1M shares over 3 weeks in March, which is about 1/5 of all NXT shares traded, on average.
As you see below, NXT currently has the largest gap between consensus target price and actual price for probably two years if not longer. Consensus average target price is 50% above the current price and the highest target (likely Citi with $4.08 target price) is more than double the current actual sp. The lowest target is $2.30, but that seems to be Moelis which reported that goal back in mid 2012!
Of course, please DYOR and remember that investment analysts have been wrong before.
NXT Price at posting:
$1.91 Sentiment: None Disclosure: Held
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