Chart Update, page-18476

smart money..........this is calculated selling pressure as A2M was a very widely held stocks by the insto's while it was a growth stock and fundamentals were growing.
Those same insto's are gradually selling down because of all the downgrades and the changing macro environment.
Both fund mangers I use had overweight positions and have been selling down for quite sometime........one was smart enough to sell down immediately after the first down grade.
Interesting, for the last few years, when you talked to any fund manager in NZ the only one stock they would agree on that was a buy and hold in your portfolio was A2M..........now they all recommend reducing your exposure.
A2M continue to be a massive drag on peoples portfolios.
Trend is your friend.
I think a few on here have expectation to high.........growing competition will eat into margins and this stock will be rated like any other soft commodity company.............PE OF 18 I suspect = $6 a share unless they can show growth and margins hold up