Nearmap slides as Macquarie cuts outlook, page-43

No such thing as long term holders when you are losing money. A long term holder is a person who buys a stock in the real anticipation that there are dividends to cover interest cost (real or notional) and price growth.

When a stock is falling like a water fall and not paying any dividend and in losses - bogus people who gamble with no real strategy call themselves long term holders. In reality they are nothing but gamblers. They are rubbish at their technical and fundamental foresight let alone analysis.