By the looks of it, NXL got a speeding ticket of sorts on Friday, but not from ASX, from Nuix board itself.
The confluence of CEO's purchase and The Australian article, a strange co-incidence, set investors buzzing that something is imminent. The board took prompt action and clarified. Kudos to them!
But objectively thinking, Nuix is not in a position to be sold off, unless legal woes see the light of day. Period. We aren't fooling anyone here. Any such bid will be challenged in court as it disadvantages the many plaintiffs.
That said, I feel some investors bought IN purely because the CEO bought IN. The hot air around takeover will fizzle on Monday and Nuix will close again in 70s. I could be wrong...
AIMO. DYOR.
NXL Price at posting:
86.0¢ Sentiment: Buy Disclosure: Held
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