1. Potential for alternative or worse legislation.
2. EDU and other providers have probably already been impacted by the uncertainty.
3. LNP has threatened to slash the intake down to 160,000 which would lead providers like EDU with barely any intake at all.
4. An election will be held next year and there's a near certainty the LNP will start scaremongering again on this topic so both parties might start competing in terms of how hard they can slash migration.
This uncertainty will prevent a whole bunch of folk from investing while this is going on.
Much of this has already been said on here previously but you seem to be ignoring everything that doesn't fit your preferred outcome.
The profitability of the sector is threatened and the outcome for EDU uncertain. I'm bullish because I THINK EDU will be highly profitable in 2024 and again in 2025 simply from continuing students. And then I THINK sense will prevail AFTER the election because we need the graduates EDU provides.
But that is just my personal opinion. Viburnum and others were happy to dump their shares at 6c because they presumably disagree and saw a risk to EDU going even lower or even surviving at all. Some of those risks remain.
The sector is very unpredictable even on a best case scenario. Everyone thought the ESOS legislation would be passed (Matt was "certain of it" lol) and then it was off the table. Who knows what tomorrow will bring? I don't claim to.
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