So it was the Statutory EBIDTA that sank the SP today. Felt like an unreasonable reaction. But no one can deny Mother Market. To me it seems like an extreme attempt to shake-off loose retail traders, whereby scrupulous spruikers want to accumulate higher share of the stocks.
The rise from $1.80s to $2.10s was unexplained. And it fell into $1.60s and came back to $1.80s. So we are back to where we were. For sure, lot of loose hands shaken off cheaply with a loss, mainly between $1.60s and $1.80s. Elaborate SP manipulation at it's best!
Court outcome will be interesting to watch. Will ASIC compensate for the legal costs if Nuix wins is to be seen. Feb 19 might bring a changed financial outlook if ASIC judgement arrives beforehand.
NXL Price at posting:
$1.83 Sentiment: Hold Disclosure: Held
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