Short selling in the US... not in Australia. That could explain the selling going on there. I think the US will put an uptick rule pretty soon to stop the free fall.
Here - I think is either margin call or nervous shareholders.
Someone did mention that OZL has also have foreign investors and hence, the selling. Typically, the volatility with OZL is much higher than teh Index itself. Once these people are gone - we could probably settle down and work our way up again. Unless a takeove take place - then it is another story.
It is certainly kind cheap to buy the entire operations including prominent hill. If you are starting from scratch imagine the funding costs and the labours,etc at this current moment.
OZL Price at posting:
$10.60 Sentiment: None Disclosure: Held
