One would think that NAB would be desperate to offload their financial planning arm or at least abrogate engagement as seems to cause nothing but bad press for them. Of course there will be the inevitable politics of Australian job losses however I think that this is an unavoidable reality of the available technologies, not only in this sector but across a broad range of industries. This coupled with the quest for profit and of a reduction of exposure to negative publicity bodes well for IAM long term.
Whilst I think that the action over the last few days represents a bit of a misstep by IAM (at least in terms of execution) I believe is also related to a bit of internal NAB politicking . My only suggestion to IAM management is to stay away from specific time lines raises unrealistic expectations and anxieties amongst what would appear to be judging by what I have read on HC of late a very skittish retail holder base.
Looking at charts looks like new overhead resistance is 8 cents looking for price to stabilize around 7 cent mark later next week (of course would be happy to be wrong)
On another note, Sower glad all the mindless flaming you coped last week didn't put you off. I too saw what you saw on the charts however FOMO stopped me selling.
GLTAH
Charlie
IAM Price at posting:
6.3¢ Sentiment: None Disclosure: Held
