Ann: Annual Report to shareholders, page-24

Look that Demoniaco might have some valid points, that NVX has definitely been traded up by the speculators with hyped anticipation of announcements on Battery Day without much supporting information. Of course it is easy to predict a pull back because that is expected in any stock.

Having presented his hypothesis, however, the supporting arguments he makes are just gibberish. One such argument is that using any forecast beyond two years is "ridiculous". Well, if forecasts beyond two years are invalid then no business investment would happen ever! No mines, no plants, no infrastructure, nothing. I've never seen a discounted cash flow analysis that limits itself to two years.