I wouldn't read too much into this temporary glitch. You are right in saying that this stock shouldn't be sensitive to overseas issues.....it shouldn't, and there is no logical reason for it to.....but humans are an illogical species and tend to make decisions based on emotion rather than fact.
I think it has more to do with two other things
1) its moved up well, especially over the past few months, and went ex div on Friday and funds are re-balancing their portfolios. Don't forget that many bought in at these levels just before the ex CEO made those misrepresentations in 2008 which made it plummet in the first place and led the company into a class action litigation against it. By selling at these levels some may be crystallizing acceptable gains/losses giving them some certainty in what figure they will be claiming in the impending class action.
Pullbacks like these are actually quite healthy and give people a chance to get set into the stock that they thought got away from them. It's like a second chance to some.
2) the psychology of human nature....when things "look" bad around them they tend to be scared off,err on the side of caution and sell up, even if there are no logical reasons to do so.
plenty more upside methinks
CCP Price at posting:
$5.05 Sentiment: Buy Disclosure: Held
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