“The share price is down 38% since WP broke his promise so it...

“The share price is down 38% since WP broke his promise so it seems that the angst is widespread.”

Anthony that is conjecture.  It could just as easily be a single seller, such as we observed post the last top20, and it is just as likely (I would argue more likely) that tax loss selling is the primary driver.  Another possibility is the opposite situation, someone big is accumulating, playing games to psych retail holders into letting their shares go cheap. I can’t prove either these explanations any more than you can prove yours.  Tax loss selling is to my mind the more plausible view given the time of year, especially when compared to a CR that was attached to such a strong business case for growth.  The latest announcement on directors funds in escrow was also good news, and was also sold into, which further supports the case that this current SP weakness is most likely being driven by external factors rather than company issues & performance.  In other words, taken together it all suggests someone has made up their mind to get out, probably for tax reasons, and once they’re done we should see a recovery...particularly with the news flow in coming weeks and months.  If it is a player accumulating, the answer is simple: be patient, and don’t fall into their trap and sell.  We can only speculate as to the “why” of all this, but these short term dips are an opportunity whatever their cause, my view is buy if you can.  Last time we hit low 20s end of last year, a few months later we were 40, and I’ve no doubt we’ll see more of that kind of volatility.  We can’t control that, neither can the company.  What matters is what you think the company’s performance is going to be: will the positive trend on sales and costs we’re now in continue or not?  Do you buy into the company’s strategy and ability to deliver on it?  If so, the trend in business performance is the thing to watch, track it against goals, and the share price will ultimately follow.