Last week's plunge was massive, but was smaller (in percentage terms) than the plunge of October/November 2018 (the infamous GST trading update).
Back then, the weekly candlesticks fell 46%, from $5.00 to $2.71.
In comparison, last fortnight's candlesticks fell 30%, from $7.94 to $5.60.
That's not to downplay the fallout of last week's price action - it was horrendous, especially considering the record gross profit announcement. It reinforces KGN's reputation of getting caned when it fails to meet expectations.
Back in October/November '18, it took 24 weeks to recover back to $5.00. Will it take that long the second time around?
KGN Price at posting:
$5.60 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)