CVN is down about 66% since it traded at 39.5 cents in November.
I know it wasn't a smarta$$ question, so please don't take this as a smarta$$ answer.
CBA - down about 42% from it's recent highs NAB - down about 43% from it's recent highs BHP - down about 23% from it's recent highs
it's not just speccies.
It would appear to have something to do with the fact that the global market has no idea what it is doing.
Consider Bear Stearns.. The other day it finished about 98% down on it's recent highs....
One day the DOW is up 420 points, next day down 200 odd.
IMO, it's a flight to quality. Or, certainty.... IMO people believe that the big stocks WILL come back at some stage, so you're better off being in them than speccies at the moment.
Also, not sure when the CFO resigned, but you mentioned $1.00..... Not sure if you're talking $1 intra day, but that was just after the uni report announcement in November.
IMO, at that time, it was overbought (on the basis that the RS report and CO2 JV is the REAL announcement), so it was always going to come back from there for a while.
Also, I think that the recent fall is to do with the report being delayed, and people believing that they will be able to take their capital elsewhere for a little while and then come back.
A very dangerous game if you ask me, as if you mistime it, you're gonna be standing at the station trying to make out the back of the train that's left the station.
ELK Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
