I'm not a trader or technical analysis guy but it seems someone sold a lot at the opening. Perhaps small holders decided to take profits fearing something bad in this morning's report. And we don't have the volume of buyers to lift the price. I could be totally wrong.
Whilst it didn't shoot the lights out, I read it at 9am and expected a percent or two in the green. Nothing to see here or to be concerned with. I thought exactly what @fatborgslim said, "what was the market expecting!?".
Maybe someone expected a 50¢ plus dividend. Maybe guidance (which I think LYL doesn't usually provide) was lacking. It could have been the general / weak commentary about a slowing world economy
and demand for lithium and nickel eventually rebounding with time. But for the share price to tank 13% is very strange. I must be overlooking something, surely.
"Given the general outlook and level of committed work, the Company expects to maintain its strongfinancial performance in FY2025 ".
I took this to mean we're looking at a similar result this time next year. I joined the earnings presentation call at 9.30am AWST and didn't hear anything of concern either.
I noticed Madamswer commented on the Breville result earlier. Hopefully s/he will provide some comments here later today and point me in the right direction.
(20min delay)