There is a wider market trend that impacts. Generally ASX stocks...

There is a wider market trend that impacts. Generally ASX stocks tend to suffer a pre-freakout before a US crash then a post-freakout after the US crash, US tech stocks generally have much wilder valuations as a result among other factors. There's also been an increasing trend of sheeple following the vaunted great analysts price targets, and taking 52-week targets as current targets, it's not rare for a broker to post a target and stocks move straight toward there e.g. coal and lithium over the past few months, NEA with the Macquarie a few days ago which capped the price around $1.30.

Then you add on the fact that with so many ETFs and funds in play these days, magnifying the capital movement. NEA being removed from ASX200 meant they needed to sell regardless of company performance, hence the drop then. Add on to the whole sudden doom and gloom over interest rates. Whether rates hit companies financials and to what degree is vastly unimportant in the broader capital movement, if an index tracker sells one they sell all.

So maybe that's part of the missing explanation to the dismal SP performance.