SP tanking partially due to CEO departure but more so due to options conversion (similar to CR where SP will move closer to those issue price). Just my thought if you do some research around other similar options conversion.
Another reason was due to ASX200 inclusion which generally SP rally prior to inclusion and tank on 1st day of inclusion (20/06) - happens all the time to stocks inclusion to ASX300 or 200.
Bottom line is don't catch a falling knife, having burnt a few times myself. A safer bet is to wait for consolidation indicator (i.e. bottom/base formed over 2-3 days) before entering.
Funds and retails are selling at a loss, a drop of 40% over 2 days is insane, and where is the market police not issuing a speeding ticket?
If you haven't bought - sit back and wait for better entry price.
If you are thinking of averaging down - good luck - my word is don't catch a falling knife. Always have a stop loss.
Ann: Additional Bonus Options Conversion, page-68
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