+1 for the manipulation goosmurf. As I mentioned in another post, it has a history of being sold down prior to reporting, a bit of tree shaking. I'm not saying this must be what has/is happening right now but just that it's possible. Could simply be a fund no longer happy with the projected growth curve in Aus, and taking steps to minimise risk in the portfolio based on some inflexible rules. Or a risk minimisation policy to move some equities to cash during times of global market instability.
I once bought at 4c when there was only the idea of being cashflow positive. Now they have proven that the business is real, they have in fact invented a new business. (high frequency of update, current. high res national aerial imagery)
After proving it they have gone to a market 10X plus in size. Likely they will make the business work there as well, but currently we are at that stage again, the idea or hope that the cash will flow. If it does, the stock will be worth a lot more. Because the business is proven in Australia, the risk of it not working is less than when they were starting in the local market.
NEA Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
