Ann: 3Q FY22 Trading Update, page-70

thanks for sharing. I think you have nailed the issue here. what has changed over the past few months is what multiples investors are willing to pay for future cash flows in a rising interest rate environment. This combined with the statement from the company that effectively the market is not growing and competitive tension is increasing there may be more attractive short term options for investors in the market - e.g. other growth stocks that have already undergone their pull back. analysts would update their 10yr discounted cashflow models with each bit of company and macro news. What is interesting is that despite the high trade volume we pretty much closed at the low for the day so we may not have bottomed out yet. So ultimately the big question we have to answer is what is the value of this company - and hence was the market right before or after the 28% plunge? As a previous shareholder i am getting tempted to re-enter so watching how it bottoms out.