Investment is like playing chess, you need to be a few steps...

Investment is like playing chess, you need to be a few steps ahead of the market and other players. The reason SP was dropping before the annual report hasn't change, which is lack of the evidence for future growth and concerns on pearl price, but you would expect the market should react very positively for the annual report, but that is just a report card for FY24, not for FY25 and future years, hence, once that excitement's gone, the SP will go back to its previous path, additionally you would expect people will cash out after the dividend and short term gains (minimal 30% gain just because of the annual report). So this is totally expected and reasonable. What is not reasonable is that the SP continue to climb to all time high or over 30c, but that will create a perfect timing for cash out.

The only danger is, sometime we may two steps or three steps ahead of the market, which will cause a long term paper loss. But if you are luck enough to have a good company, this will eventually turn into a good investment for long term.