I am not a downramper. I am a NOR diehard that has bought into this company at far higher prices than are currently trading and I still am happy with my decision.
It does however seem a tad unusual for a company to be call a trading halt for 3 days for a memorandum of understanding. That's like giving a girl your number and saying I dig your style, we should go out sometimes. A pleasing development in the romance novel of NOR but not grounds for such a drastic market action. I do wonder how the ASX feels about his.
So either this MOU was expected, in which case NOR was buying time to help launch their 2 week late app on itunes before the share went below 4 cents or it was unexpected in which case perhaps a deals is closer than we think and they are just tying up lose ends.
The proof in the pudding for me will be when the downloads and more importantly revenue from the new customer friendly app comes through. Not launching with free app to app was oversight that I think they have now corrected in the nick of time.
Still I expect nothing but a consistent positive movement for this companies share price and nobody is getting my shares for under 50 cents. If you want to make the day traders some money by all means buy or sell over the next few weeks but this is a long term specy hold in my view.
