Some of my sentiment and reasoning is quite closely aligned A..06. There is blood in the water at the moment and the momentum is on the negative side. The media and their backers (don’t kid yourself readers - this witch hunt isn’t for justice. I’d say it’s more akin the payback) are ensuring new articles are pooring oil on the fire. AFR Chanticleer has admitted to investing in the stock and if he did so did others.
I don’t think the class action has legs for anyone other than the lawyers - and by that I only mean free advertising by nominating themselves.
Also, the ex-CEO issue will likely be settled or dragged out.
In the meantime contracts will continue rolling in as this is a respected industry product. The ability to forecast (to eliminate negative updates) will be key so I hope the new-CFO gets his head around this issue. I will never mind a positive forecast update though.
I’m accumulating conservatively at present as are many other punters. There are always two sides to every trade.
NXL Price at posting:
$2.46 Sentiment: Buy Disclosure: Held
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