The major reason for NCM's weakness has been revealed today - looks as though Fidelity have just finished a significant selldown which commenced late October. No wonder the stock has traded like it couldn't get out of its own shadow.
Now that this major selldown has finished I suspect that the shorting will abate( from the brokers involved with the selldown and those in the know) and the share price slowly but surely will begin to recover.
Im interested to know If Fidelity have been selling down other Aussie goldies also.
NCM Price at posting:
$31.10 Sentiment: LT Buy Disclosure: Held