I saw the same thing happen to Qantas recently about 2 to 3 weeks after the Buy back finished the price started moving and then did not look back During BB it went south. I know conventional wisdom says that it should support the price however it does not work out that way in practice NMT do not want to pay any more than 29/30 cents and they have been controlling the price in that bracket or at best 28 /33.
I personally could never see the sense of this BB However CR is a smart cookie and he obviously does. Look at where Galaxy was in price in Jan when we were vying for first shipment honours we were Level price and look at galaxy today and tell me the BB is not affecting us
NMT Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
